NASHVILLE, Tenn. — Mitsubishi Motors announced on Tuesday that it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee's growing reputation as an epicenter of the automotive sector.
Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe — who made the announcement with Mitsubishi Motors North America — say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs.
TOKYO — Mitsubishi Motors Corp. shareholders approved on Friday the ouster of Carlos Ghosn, who was pivotal in the Japanese automaker's three-way partnership with Nissan and Renault until he was arrested on financial misconduct charges last year. The vote took place in a two-hour general meeting of shareholders at a Tokyo hotel. Nissan Motor Co. owns 34% of Mitsubishi Motors. Osamu Masuko, who was reappointed chairman, promised to strengthen governance and transparency and monitor wrongdoing. More outsiders will check executive appointments and compensation, he said. Nissan shareholders held an extraordinary shareholders' meeting in April to oust Ghosn as chairman. He resigned from French alliance partner Renault SA. The Mitsubishi shareholders also approved the appointment of Renault's chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43% of Nissan. Nissan, based in the port city of Yokohama, is holding a general shareholders' meeting next week to approve other measures, including setting up committees to strengthen governance. Nissan said late Thursday two Renault executives will be on the committees. Renault earlier said it would abstain in that vote, and the greater representation promised on the committees may gain Renault's approval. Renault said in a statement that it welcomed Nissan's decision but did not say how it planned to vote. "The agreement reached on Renault's presence in Nissan's new governance confirms the spirit of dialogue and mutual respect that exists within the alliance," it said. Some analysts suggest a deepening rift between Renault and Nissan after a planned merger between Renault and Fiat Chrysler fell through earlier this month. Nissan expressed reservations about immediately joining the merger. Masuko told shareholders the auto industry faced challenges because of the costs of advancements such as emissions standards and self-driving technology. He said the Tokyo-based automaker will pursue focus over expansion, repeatedly highlighting the company motto "small but beautiful." He also stressed the importance of auto alliances. "We want to be a profitable company even if smaller in scale," he told shareholders. One Mitsubishi Motors shareholder expressed anger over the Ghosn scandal. But most of the questions were about new models and market strategy. Ghosn, who led Nissan for two decades, saving it from near-bankruptcy, had served as chairman at Nissan, Renault and Mitsubishi, and was long a revered figure in the industry. He has been charged with falsifying financial reports in underreporting retirement compensation and with breach of trust in having Nissan shoulder investment losses and in diverting Nissan money for personal gain. Ghosn says he is innocent. ___ Follow Yuri Kageyama on Twitter https://twitter.com/yurikageyama On Instagram https://www.instagram.com/yurikageyama/?hl=en
TOKYO — Mitsubishi Motors Corp said on Friday that Osamu Masuko will step down as its chief executive on June 21 and be replaced by Takao Kato, who is president of its operations in Indonesia.
Masuko will retain his role as chairman of the board, Mitsubishi Motors said in a statement, adding that Masuko and Kato will hold a press conference on May 20 to discuss the changes.
Japan's automaker Mitsubishi Motors says it will also propose to its board of directors that Carlos Ghosn be immediately dismissed from his post as chairman.
Ghosn oversees the alliance between Nissan Motor, French automaker Renault and Mitsubishi Motors.
Ghosn was arrested on Monday on suspicion of violating financial law. Mitsubishi Motors says it will propose his removal because the allegations leveled at Ghosn are about corporate governance and compliance.
The chief executive officer of Mitsubishi Motors expressed his shock regarding the arrest of Nissan Motor Chairman Carlos Ghosn.
Osamu Masuko said the news is regrettable, for he has worked with Ghosn even though it was not for a long time. He also said he feels sorry, as it causes inconvenience to many people.
Mitsubishi Motors has just sold its 100,000th Outlander PHEV plug-in hybrid in Europe, a single market packed with countries that offer all manner of financial incentives to prospective green-car buyers.
In fact, about 10 per cent of the company’s total volume across Europe is the Outlander PHEV, and it’s the best-selling vehicle of its type (from an admittedly small field) in markets such as the UK, Norway and Spain.
Word has it that Nikon is working on a new mirrorless camera, and given that Nikon's previous mirrorless efforts haven't exactly panned out, it is understandable that the company might be working to make their next mirrorless camera even better. Now according to a report from Nikon Rumors, some details have been revealed.
According to the report, apparently Nikon's next mirrorless camera will feature dual electric AF motors. Apparently what this will facilitate is two groups of lens elements will be able to move independently from each other. As Nikon Rumors points out, Nikon won't be the first to introduce such a setup as other brands like Sony, Leica, and Olympus have lenses with dual electric AF motors.
NSK Ltd exhibited a concept model of the "Wheel Hub Motor Fit" in-wheel motor at Tokyo Motor Show 2017, which was open to the public from Oct 28 to Nov 5, 2017.
Incorporating two motors and a compact transmission, the in-wheel motor realizes smooth acceleration, according to NSK. With the embedded transmission, it becomes possible to reduce the size of motor and ensure a high torque, the company said.
Mitsubishi Motors Corp will start volume production of a new compact crossover MPV (multi-purpose vehicle) in September 2017 in Indonesia.
Mitsubishi Motors plans to unveil the vehicle at the 25th Gaikindo Indonesia International Auto Show, which will take place from Aug 10 to 20, 2017. The new MPV is one size larger than the company's existing compact MPV and has three rows of seats. It is aimed at realizing amenities and ride comfort for seven passengers.
Honda’s head of research and development Sekino Yosuke revealed the company’s intention of building an all-electric NSX to Autocar at the sidelines of the 1000hp 4-Motor Acura EV Concept demonstration event.
Mitsubishi Fuso Truck and Bus Corp (Fuso) reported Feb 28, 2017, that it has grown new 7.7L and 10.7L diesel motors for trucks.
They are in-line six-barrel motors outfitted with a turbocharger. The mass of the 7.7L motor is around 40% littler than that of the past model while its yield is the same as that of the past model. Both of the motors will be utilized for the new "Super Great" truck, which will be discharged in April to June 2017.