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Carlos Ghosn re-arrested and thrown back in jail [UPDATE]

TOKYO — Tokyo prosecutors arrested Nissan's former chairman Carlos Ghosn on Thursday for a fourth time, on fresh allegations that cut short his brief time outside detention. Early in the morning, Ghosn was taken from his apartment in Tokyo to the prosecutors' office and then sent to the Tokyo Detention Center, the same facility where he spent more than three months following his arrest in November. He had been released on bail just a month earlier. It's unclear how long Ghosn may be detained under the latest arrest, which involves what prosecutors said was a new alleged crime. "My arrest this morning is outrageous and arbitrary," Ghosn said in a statement issued Thursday. "It is part of another attempt by some individuals at Nissan to silence me by misleading the prosecutors. Why arrest me except to try to break me? I will not be broken. I am innocent of the groundless charges and accusations against me." The prosecutors defended the move, saying the latest allegations are a new case requiring precautions to prevent Ghosn from destroying evidence. They allege $5 million in funds sent by a Nissan subsidiary to an overseas dealership were diverted to a company controlled by Ghosn. "We now have a totally different case, and we are only doing what we think is right," Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutor's Office, told reporters. "As a result of our investigation, we have a new case in which he must be detained, and we have appropriately obtained an arrest warrant from the court," he said. Ghosn, 65, was first arrested on Nov. 19 on charges of under-reporting his compensation. He was rearrested twice in December, including on breach of trust charges. The multiple arrests prolong detentions without trial and are an oft-criticized prosecution tactic in Japan's criminal justice system. The allegations in the most recent arrest cover three money transfers from 2015 through last year, according to the prosecutors. Kukimoto said the new allegation of breach of trust is different from an earlier charge made in January. The companies where the money was transferred to, the motives, and the alleged scheme are all different, he said. He refused to identify the three companies allegedly involved but said one company was in effect owned by Ghosn. Unlike an earlier case, in which Ghosn caused damage to Nissan to benefit himself and a business partner, this time it was merely "for his own personal benefit," Kukimoto said.

Uber promises 100% electric cars by 2040, commits $800 million to help drivers switch

Uber Technologies Inc on Tuesday said every vehicle on its global ride-hailing platform will be electric by 2040, and it vowed to contribute $800 million through 2025 to help drivers switch to battery-powered vehicles, including discounts for vehicles bought or leased from partner automakers. Uber said that vehicles on its rides platform in the United States, Canada and Europe will be zero-emission by 2030, taking advantage of the regulatory support and advanced infrastructure in those regions. Uber, which as of early February said it had 5 million drivers worldwide, said it formed partnerships with General Motors and the Renault-Nissan-Mitsubishi alliance. In addition to the vehicle discounts, Uber said the $800 million includes discounts for charging and a fare surcharge for electric and hybrid vehicles, the cost of which would be partially offset by an additional small fee charged to customers who request a "green trip." The deals with GM and the Renault alliance focus on the U.S., Canada and Europe. Uber said it was discussing partnerships with other automakers. Uber's plan follows years of criticism by environmental groups and city officials over the pollution and congestion caused by ride-hail vehicles and calls for fleet electrification. Lyft Inc, Uber's smaller U.S. rival, in June promised to switch to 100% electric vehicles by 2030, but said it would not provide direct financial support to drivers. Uber said its goal is to reduce the overall cost of ownership for electric vehicles, which are currently more expensive than gasoline cars. The company also released data on its emission footprint and said it would publish reports going forward. Before the pandemic, electric cars accounted for only 0.15% of all U.S. and Canadian Uber trip miles — roughly in line with average U.S. electric car ownership. At around 12%, the share of plug-in hybrid and hybrid cars was roughly five times as high as the U.S. average. Ride-hail trips overall account for less than 0.6% of transportation-sector emissions, according to U.S. data, but the total number of on-demand vehicles has significantly increased since Uber's launch nearly a decade ago, with 7 billion trips last year, according to Uber's February investor presentation. Uber said its U.S. and Canadian trips with a passenger produce 41% more carbon dioxide per mile than an average private car once miles spent cruising between passengers are included. Uber's plans could be a boon to the auto industry.

Nissan officials answer to angry shareholders on red ink, Ghosn scandal

Smoke engulfs the Nissan logo as workers burn tires during a protest in Barcelona, Spain, where the automaker is closing its plant, costing 3,000 direct jobs. (AP/Emilio Morenatti)     TOKYO — Nissan Chief Executive Makoto Uchida told shareholders Monday he is giving up half his pay after the Japanese automaker sank into the red amid plunging sales and plant closures in Spain and Indonesia. Uchida apologized for the poor results and promised a recovery by 2023, driven by cost cuts and new models showcasing electric-car and automated-driving technology. “We will tackle these challenges without compromise,” he said at a live-streamed meeting. “I promise to bring Nissan back on a growth track.” Executives for the company also blasted suggestions in media reports of a conspiracy within the company to oust Carlos Ghosn. The former chairman's 2018 arrest in Japan on financial misconduct charges has led to much speculation that the move was orchestrated by Nissan executives who opposed closer ties with partner Renault. “I know that in books and the media there has been talk about a conspiracy, but there are no facts whatsoever to support this,” Motoo Nagai, chairman of NissanÂ’s auditing committee, told shareholders at the companyÂ’s annual general meeting. Responding to demands from a shareholder to address the speculation, Nagai argued that the investigation into Ghosn was conducted both internally and by outside law firms. All the worldÂ’s automakers have been hurt by nose-diving sales caused by the coronavirus pandemic. But the problems are especially serious for Nissan, which already was fighting to salvage its reputation after the financial misconduct scandal of former star executive Ghosn. Nissan, based in Yokohama, Japan, sank into its first annual loss in 11 years, reporting a 671.2 billion yen ($6.3 billion) loss for the fiscal year that ended in March. It has not given a projection for this fiscal year, citing uncertainties over the virus outbreak. One angry shareholder got up and said executives should give up more of their pay since investors were getting zero dividends. Another said Nissan needed to do more to strengthen its governance, arguing things have been getting worse, not better, since the departure of Ghosn.