Word: mitsubishis
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...meet government-mandated fuel-economy standards and still satisfy drivers' demands for performance, carmakers are constantly struggling to boost mileage without cutting power. Last week in Tokyo, Honda and Mitsubishi simultaneously said they have developed engines that can increase mileage up to 20% without cutting performance. Honda's VTEC-E engine, which the company says can get up to 65 m.p.g. on the highway without sacrificing power, will be offered in the Civic Hatchback VX, which makes its U.S. debut later this year. The new engine, which will eventually be available in all Honda models, is likely to be slightly...
...Mitsubishi's Coilplus subsidiary, a manufacturer of precision steel products, didn't just plop down its new $16 million plant in Will County, ^ Ill., three years ago by chance. The county, 35 miles south of Chicago, prevailed in an intense 15-month bidding contest against 20 other sites in Illinois and neighboring Iowa, Indiana and Wisconsin. Will County won by building a $300,000 road, finding $150,000 in state funds for a training program, extending a railroad spur to the plant's back door, negotiating with the owner of the 37-acre site to drop its price, and even...
Chrysler is back at the brink of disaster a decade after the government rescued it by guaranteeing $1.5 billion of the company's loans. Now Chrysler is desperately seeking to raise $500 million to help it hold the road. To do that, the struggling automaker may sell Mitsubishi an increased stake in the Diamond-Star Motors joint venture that builds Plymouth Laser and Mitsubishi Eclipse models in Illinois. Chrysler has also boosted its cost-reduction target from $1 billion to $3 billion...
...decade after turning to the U.S. government for a rescue, Chrysler may again be looking for help in weathering a financial crisis -- this time in Japan. Mitsubishi, Chrysler's longtime Japanese partner, is reportedly prepared to put $200 million to $300 million into the U.S. automaker. In return, Mitsubishi would get more control over the Diamond-Star Motors joint venture that builds cars for both companies at a new plant in Normal, Ill. For Chrysler the deal would mean a respite from a recession that has cut sales more than 20% and left the company facing a first-quarter loss...
...Japan's "unfair" trade practices for years, ventilating his views most recently in a letter to President Bush and during an Oval Office meeting. Chrysler ad campaigns have repeatedly challenged the reputation for quality that Japanese products have gained with American consumers. So what about the reports of a Mitsubishi bailout? Chairman Lee has been uncharacteristically silent...