When Carlos Ghosn of French company Renault stepped in, buying 44.4% of the company in 1999 and becoming its chief operating officer, people still had reason to believe that the Z-car would be lost in the shuffle and would never reappear again. Massive restructuring on a scale never before seen by the Japanese automakers led to such fears, among layoffs, corporate restructuring, and product management issues that resulted. Yet Ghosn surprised people after becoming CEO by telling reporters: "We will build the Z. And we will make it profitable."[13]
Finally in August 2001, Nissan introduced the Z Concept. Much like its previous Z concept, it debuted at the North American International Auto Show and was also painted bright orange. The squat, long-hood/short-deck styling was the result of a competition between Nissan's Japanese, European, and American design studios, with the La Jolla, California studio's design being chosen. The product planners wisely decided to avoid the price problems that plagued the last few years of the 300ZX and shot for a target MSRP of $30,000 while using the Porsche Boxster as a benchmark.[14]
In the summer of 2002, the 350Z was finally released to wide acclaim. It used the 3.5-liter VQ35DE engine from multiple Nissan cars, including the Maxima and Pathfinder. This engine initially produced 287 bhp (214 kW) and 274 lb·ft (371 N·m) torque, but in 2005 was bumped up to an even 300 bhp (220 kW) and 260 lb·ft (353 N·m). Prices started at $26,000 US, well below the $30,000 mark initially set. Coupled to either a 6-speed manual or 5-speed automatic (the auto loses 13 bhp (9.7 kW) in comparison), it is currently available only as a 2-seater hardtop and a convertible, introduced in 2004, and there will not likely be a 2+2 configuration. There are 5 trim packages available, featuring options such as Bose audio systems and leather seats, with the top-of-the-line trim being the Nismo limited edition. This included revised camshafts, a Nismo sport tune exhaust, custom RAYS Engineering 18-inch (460 mm) wheels (19 in/480 mm in rear), front and rear spoilers and rear diffuser, a Brembo braking system with four-piston front and two-piston rear calipers (with 12.8 in/330 mm front and 12.7 in/320 mm rear rotors).
The 2005 35th Anniversary and 2006 350Z with manual transmissions receives a new engine, the 3.5L VQ35DE rev-up, which increases the redline to 7000 rpm and increased power to 298 hp (222 kW). And all 2007-2008 350Z models comes with the newer 3.5L VQ35HR engine with dual intakes, 7500 rpm redline, and increased power to 306 hp (228 kW).
So far, there have been many special editions released in Japan, Europe, and the US, with the most notable being the 35th Anniversary Edition. Celebrating 35 years of the Z-car (as opposed to the 300ZX Z31's 50th Anniversary Edition commemorating the company), it was based on the Track Edition and came in three colors (Ultra Yellow, Silverstone and Super Black), special 5-spoke wheels, and special Z emblems.
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