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Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan

Nissan rolls out updated Juke-R 2.0 at Goodwood

If you thought the original Nissan Juke-R was badass, just check out this latest version. Called the Juke-R 2.0, it's making its debut as promised this weekend at the Goodwood Festival of Speed, packing a series of upgrades to make it even more potent than the original version. And not the least of those is a new, 600-horsepower engine. For those who don't recall, Nissan first launched the Juke-R four years ago – the year after the production Juke first hit the market. The idea was to cross-breed the little crossover with a GT-R and create what was billed as the world's first crossover supercar. Version 2.0 takes the idea even further. In place of the 545-horsepower twin-turbo V6 from the GT-R available at the time it was built, the Juke-R 2.0 packs the upgraded 600-horsepower engine from the GT-R Nismo. It also incorporates the enhancements applied to the facelifted Juke revealed last year, including its revised lighting and bodywork. Only the Juke-R 2.0 also features entirely new bumpers front and rear, wheel arches, side sills, and more, all crafted from carbon fiber and coated in matte black. Nissan isn't saying exactly what she'll do. Considering, however, that the existing version could sprint from a standstill to 60 in three seconds flat, the added power could only make it even quicker. Le Mans driver Jann Mardenborough will be driving up the hill at Goodwood, and we doubt it'll take him much time at all to reach the top. THE NISSAN JUKE-R GETS AN EXCITING UPGRADE - INTRODUCING THE JUKE-R 2.0 - Nissan upgrades its legendary original Juke-R Crossover supercar - The Juke-R 2.0 concept makes its global dynamic debut at Goodwood Festival of Speed (26-28 June in the UK) - Drawing on impressive performance from the GT-R, the Juke-R 2.0 will reach 600bhp - LM P1 driver and GT Academy winner Jann Mardenborough to showcase the Juke-R 2.0 up the famous Goodwood hill - Launched this Summer to kick start the fifth anniversary of the Nissan Juke The birth of the Nissan Juke-R set a benchmark in 2011 as the world's first Crossover supercar, marrying Nissan's innovative Juke with the engine and running gear from the legendary Nissan GT-R - the brand's flagship sportscar. Now four years on, Juke-R has been given an exciting upgrade to reflect the latest model of the Juke coupled with even more power and bolder styling - welcome the Juke-R 2.0.

Ghosn: Nissan-Renault strife and his arrest can be traced back to Macron

PARIS — Ex-Nissan boss Carlos Ghosn said on Wednesday that a surprise corporate move, orchestrated five years ago by French President Emmanuel Macron, who was then economy minister, soured relations between Renault and Nissan and contributed to his ouster. Ghosn, the former head of the car alliance, said Nissan executives and Japanese officials were shocked by a 2015 decision by the French government to increase its voting rights at Renault. "This left a big bitterness. Not only with the management of Nissan, but also the government of Japan," Ghosn told reporters, although he did not name Macron. "And this is where the problem started." Macron's office did not respond to a request for comment. In April 2015, as a 37-year-old minister with then-unknown presidential ambitions, Macron ordered a surprise increase in the state's stake in Renault designed to secure double voting rights. The overnight move gave the French state a blocking minority in Renault, which in turn controlled Nissan via its 43.4 percent stake in the Japanese firm. According to French and Japanese sources, that rattled the Japanese side of the Renault-Nissan alliance, which feared a national champion was falling under the control of the French government. In the ensuing eight-month boardroom fight between Macron's ministry and Hiroto Saikawa — Nissan's second-in-command at the time — Ghosn sees the seeds of what he says grew into a conspiracy to have him arrested and oust him from control of Nissan. The 65-year-old fled Japan last month as he awaited trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. He is now in Lebanon, where he spoke to international media on Wednesday. "There started to be some kind of defiance from our Japanese colleagues, not only about the alliance but also about me," Ghosn told reporters. "And some of our Japanese friends thought: The only way to get rid of the influence of Renault on Nissan is to get rid of him," he added. "Unfortunately, they were right." Following Ghosn's arrest in November 2018, Nissan executives said that said governance had been eroded by RenaultÂ’s control.