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Nissan To Buy Mitsubishi For $2.2B | Autoblog Minute

Nissan confirmed this week that it would take a controlling interest in troubled Japanese automaker Mitsubishi. Nissan will buy 34% of Mitsubishi for $2.2B. Mitsubishi Nissan Autoblog Minute Videos Original Video

Carlos Ghosn's lawyers in Japan quit after client's flight to Lebanon

TOKYO — Japanese attorneys representing Carlos Ghosn, including lead lawyer Junichiro Hironaka, quit on Thursday following the former Nissan chiefÂ’s flight to Lebanon from Japan, where he had been fighting financial misconduct charges. Hironaka had been representing Ghosn in his defense against financial misconduct charges. His move, announced Thursday, was widely expected after Ghosn escaped to Lebanon late last month. A second lawyer in GhosnÂ’s three-person legal team, Takashi Takano, also quit on Thursday, according to an official at his office. A person who answered the telephone at the office of the third lawyer, Hiroshi Kawatsu, said she did not know if he still represented the former automotive executive. Hironaka said in a statement that the entire team working on the case at his office will quit but did not outline reasons. He has said before he felt some empathy for Ghosn's reasons for escape, while stressing he had hoped to win vindication in court. Hironaka is respected for winning high-profile cases in this nation where the conviction rate is higher than 99%. Among the cases he has handled is that of Atsuko Muraki, a Welfare Ministry official accused of falsely approving a group to qualify for mail discounts. She was acquitted in 2010. Also Thursday, Nissan released steps it was taking to prevent a recurrence of Ghosn's scandal, and reiterated its denouncement of Ghosn. The automaker said in a report submitted to the Tokyo Stock Exchange that Ghosn had the authority to “single-handedly” determine directors' compensation and such information was not shared with other departments at the company. The underreporting of his future compensation is among the allegations Ghosn faced in Tokyo. In a news conference last week in Beirut, Ghosn insisted again that he was innocent of the charges, which also included breach of trust in diverting Nissan money for his personal gain. He said he fled because he felt he could not expect a fair trial in Japan. Ghosn's flight while he was out on bail awaiting trial means his case will not go on in Japan. Interpol has issued a wanted notice but his extradition from Lebanon is unlikely. Ghosn has accused Nissan and Japanese officials of conspiring to bring him down to block a fuller integration of Nissan with its French alliance partner Renault SA of France. Ghosn, who has signed on an international team of lawyers, has expressed willingness to stand trial in Lebanon.

Mitsubishi delays Outlander PHEV yet again for the US

Mitsubishi was so close this time. The company showed the US-spec version of the plug-in Outlander crossover at this year's New York auto show, with plans for it to go on sale in the summer or fall of 2016. But once again, the beleaguered green family hauler has been delayed. HybridCars learned from Mitusbishi public relations managers for both the US and Canada that the Outlander PHEV won't go on sale until next summer. No specific reasons for the delay were given outside of a need "to meet a level of competitiveness that will exceed customer expectations." While we hope for Mitsubishi's sake the company releases the best product it can make, we don't think the expectations of our market will be that high, since there are no plug-in hybrid SUVs in the Outlander's class and price range. Unfortunately delays have been a recurring problem for this model. We first thought it would arrive in 2014 after launching in Japan. But ever since the original announcement, problems including battery production issues and regulatory demands have prevented the Outlander PHEV's US introduction. In the meantime, Japan and Europe have had the crossover for a few years. The car has since been refreshed, and we were promised that updated model but no dice yet. HybridCars also points out that the Outlander PHEV has been the best-selling plug-in hybrid in Europe. We imagine it could be a major success here since it combines plug-in tech with the ever-popular crossover body style, but we won't know until next year. At least as long as it doesn't get delayed again. Related Video: News Source: HybridCARSImage Credit: Drew Phillips Green Mitsubishi Crossover Hybrid PHEV