Renault-Nissan took over control of the scandal-plagued Mitsubishi Motors Corp on October 20, buying up a $2.3-billion stake and installing Nissan CEO Carlos Ghosn as company chair.
Ghosn at the same time appointed his company’s chief competitive officer, Hiroto Saikawa, Nissan’s co-CEO so that Ghosn himself would have more time to personally direct Mitsubishi’s operations, reports Bloomberg.
Ghosn will be working with Mitsubishi president Osamu Masuko to help Mitsubishi recover from a recent fuel economy scandal that sent company stock plunging and that may lead to “the carmaker’s first annual loss in eight years,” the outlet reported.
Other benefits of the acquisition include an agreement between the two companies “to share plug-in hybrid and autonomous-driving technology, finance company resources and a multipurpose vehicle model for Southeast Asian markets.”
- Chinese automaker Geely this past week unveiled a new brand, Lynk & Co, as well as that brand’s first model, a Volvo-based SUV called the 01 that Geely says is “the most connected vehicle ever made.” The 01 comes with a digital key to enable car-sharing from the factory; it will go on sale in China 2017, then the year after in Europe, and then in the US and Canada. (via Autoblog)
- Toronto-based car dealer Pfaff Autoworks recently partnered with North York General Hospital to turn one of the hospital beds used to house younger patients into a mock Porsche 911 GT3 race car! The dealership will help pay to replace all of the hospital’s beds by 2018. (via YouTube)
- The reborn DeLorean Motor Car company is now taking orders for the 300 new examples of the DMC-12 it hopes to build starting in 2017. The company still hasn’t said what modern engine it will install in the new DeLoreans, but almost anything’d be better than the underpowered Renault units it originally came with. (via the DuPont Registry)
- If you’ve got cash burning a hole in your pocket but don’t fancy the above-mentioned DeLorean, Maryland-based Genovation is taking orders for a limited run of 75 fully electric Corvettes, each with 660 horsepower and a 205-mph top speed. Cost is a little high, though, at $750,000 – no typo – and deliveries won’t start until the end of 2019. (via Electrek)