Mitsubishi Motors Corporation is a multinational automotive manufacturer headquartered in Minato, Tokyo, Japan. In 2011, Mitsubishi Motors was the sixth biggest Japanese automaker and the sixteenth biggest worldwide by production. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries. Wikipedia.
« U Michigan team develops air-stable catalyst for upgrading ethanol to 1-butanol | Main | Ford, Mazda, Mitsubishi Motors & Subaru Join Linux Foundation and Automotive Grade Linux; new unified code base distribution » Silvercar, a new car rental company which only offers silver Audis, announced its largest capital raise to date with a $28-million Series C equity issuance led by Audi. The Series C announcement comes as Silvercar unveiled enhanced digital and mobile platforms designed for an optimized user experience and expands into Las Vegas, its 12th market. Silvercar also received funding from Series B investors including Austin Ventures and Eduardo Saverin, co-founder of Facebook. The funding will enable Silvercar to accelerate its award-winning airport car rental business and expand to new markets nationwide. Additionally, as part of the next phase of Silvercar’s partnership with Audi, the companies will work in tandem to develop Audi Shared Fleet, a turnkey solution for businesses looking to provide accessible transportation to their employees on corporate campuses. In addition to the immediate financial impact, Audi North America President Scott Keogh will be joining Silvercar’s Board of Directors. Keogh will join Ken DeAngelis, Austin Ventures, Samrat Ganguly, Velos Partners, Blair LaCorte, formerly of Texas Pacific Group, and Silvercar CEO Luke Schneider on the board. Silvercar represents not just the future of the car rental industry, but a vision for the future of mobility. We want to utilize the company’s strengths in technology and innovation to merge connectivity and mobility for today’s consumer.
"The situation at Mitsubishi Motors just went from bad to much, much worse. The Japanese automaker admitted Tuesday that it had falsified fuel efficiency tests for the past quarter century, the latest revelation in a scandal that has rocked the company. Investors responded by pushing Mitsubishi shares down by 10%. The fuel test scandal has now erased half of the company's market value, and its shares are sitting at a record low. The automaker said last week that it had used improper fuel economy tests on hundreds of thousands of vehicles, including some sold to Nissan (NSANF). "
News Article | April 21, 2016
Mitsubishi Motors has confessed falsifying fuel economy test data for more than 600,000 vehicles sold in Japan, putting its shares down to more than 15 percent and cutting down $1.2 billion from its market value, the stock’s biggest day drop in nearly 12 years, reports Reuters. At a media briefing in Tokyo on April 20, Mitsubishi Motors president Tetsuro Aikawa, together with company bosses, appeared dismayed over the issue. "The wrongdoing was intentional. It is clear the falsification was done to make the mileage look better,” said Aikawa. “But why they would resort to fraud to do this is still unclear.” While he said he is unaware of the irregularities, he said he feels responsible for the issue. He added that the issue was already reported to Japan’s transportation ministry. The problem was discovered after Nissan suspected inconsistencies. The inaccurate tests involved 625,000 cars built since 2013. The impacted vehicles included 157,000 light passenger vehicles and 468,000 cars manufactured for Nissan Motor. Nissan has already ordered its dealers to discontinue selling the affected cars and is already looking for ways on how to extend its help to owners of the affected vehicles. Last year, Volkswagen was uncovered to have manipulated diesel emissions test results. “This may be different from Volkswagen’s issue, but the market has become very sensitive to such kind of news,” said Tokai Tokyo Research Center Seiji Sugiura. “It may have a similar impact in terms of sales and the company’s reputation.” Before this fuel emission tests scandal, Mitsubishi has been hoping to bring back the confidence in its cars after facing a series of issues more than a decade ago. These include the alleged flawed axles that, according to Bloomberg, “led the carmaker to seek multiple bailouts from Mitsubishi group of companies.” Sugiura said the new issue is again bad for the automaker’s image, adding that this scandal will certainly not help in rebuilding its reputation. In 2014, South Korean car makers Hyundai Motor Co and Kia Motors Corp paid penalties amounting to $350 million to the United States government for overstating the fuel economy ratings of their vehicles. The automakers have also arrived at a resolution regarding the claims from the owners of the affected vehicles. © 2016 Tech Times, All rights reserved. Do not reproduce without permission.
« New Flyer introduces first 60-foot hydrogen fuel cell bus in North America | Main | Mitsubishi Motors manipulated fuel economy testing on 625K mini-cars sold in Japan; other models affected » Members of AVnu Alliance, the industry consortium driving open, standards-based deterministic networking (earlier post), publicly demonstrated interoperability of systems designed to meet the AVnu Automotive Profile at the Automotive Ethernet Congress held in Munich, Germany earlier this year. The demo featured products and solutions from several AVnu Alliance members: Ixia, a provider of network testing, visibility, and security solutions; Marvell Technology Group, a provider of complete silicon solutions; and NXP Semiconductors, a provider of secure connectivity solutions for embedded applications. The showcase is based on the AVnu AVB Automotive Profile—a specification for the use of the IEEE AVB standards that provides an integrated overall networking solution for the automotive market. AVB is an enhancement to the Ethernet suite of open standards. It provides quality of service (QoS) guarantees; a network time synchronization service; and a related transport protocol for transmission of time-sensitive traffic that together allow a network to handle audio-visual (AV) data. In the automotive environment, it can also satisfy more generalized time-sensitive networking requirements, opening up the possibility of a single network that handles infotainment, body control, driver assistance and even safety-critical functions. The AVnu AVB Automotive Profile brings these standards together so as to meet the need for fast vehicle start-up and reliable operation of automotive infotainment systems. Automotive suppliers and OEMs can use the AVnu AVB Automotive Profile to simplify requirements specification, enable faster time-to-market, lower costs, and ease integration. The demonstration at Automotive Ethernet Congress featured the AVnu Automotive multi-media profile through six endpoints (audio source, digital amplifier, grand master clock, etc). The setup included real and emulated AVB talkers and listeners from NXP and Ixia communicating over a network of AVB bridges from Marvell and NXP, all AVnu Alliance members. The demonstration is a milestone showcasing automotive AVB/TSN is a technology that is ready for use in production, and has been validated by multi-vendor implementations of the same system profile. It also highlighted the automotive Ethernet specific physical layer, Institute of Electrical and Electronics Engineers (IEEE) 100BASE-T1 (Ethernet running at 100Mbps over a single twisted pair). Highlighting the benefits of AVB/TSN for the automotive space, the demonstration featured precise synchronization, delivery of time-sensitive streams, bandwidth and latency guarantees. The demonstration is validation that AVB/TSN is the low-cost, high-performance networking technology for the automotive industry. The technology enables car makers to use the same Ethernet network for real-time and non-real-time communications, at much higher speeds than previous automotive busses. The AVnu Alliance is a community creating an interoperable ecosystem of low-latency, time-synchronized, highly reliable networked devices using open standards. AVnu creates certification programs to ensure interoperability of networked devices. The foundational technology enables deterministic synchronized networking based on IEEE Audio Video Bridging (AVB) / Time Sensitive Networking (TSN) base standards. The Alliance, in conjunction with other complimentary standards bodies and alliances, develops complete solutions in professional AV, automotive, industrial control and consumer segments.
News Article | April 22, 2016
TOKYO (Reuters) - Mitsubishi Motors Corp's fuel economy scandal broadened on Friday as U.S. auto safety authorities said they were seeking information, and media reported that the automaker had submitted misleading data on at least one more model than disclosed and likely several others.