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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Federal prosecutor fights bail for men accused of helping Carlos Ghosn escape

BOSTON — A U.S. prosecutor on Monday urged a judge to keep a former Green Beret and his son locked up as Japan prepares to formally seek their extradition on charges that they helped former Nissan boss Carlos Ghosn flee the East Asian country. Assistant U.S. Attorney Stephen Hassink argued during a virtual hearing that Michael Taylor and his son, Peter Taylor, have a "clear and present reason to flee" after being accused of helping Ghosn, who faces financial misconduct charges in Japan. "They're actually some of the best defendants that IÂ’m sure this court has seen positioned to actually succeed in that flight," Hassink said. He argued the men, who have been held without bail since being arrested in Massachusetts last month, helped smuggle Ghosn out of Japan in a box on Dec. 29, 2019. Ghosn then allegedly fled to Lebanon, his childhood home, which has no extradition treaty with Japan. Ghosn, Nissan's former chief executive, was charged with engaging in financial wrongdoing by understating his compensation in Nissan's financial statements. He denies wrongdoing. The Taylors' lawyers countered that had they wished to avoid prosecution they could have remained in Lebanon, where they were in January when Japan said it would seek their arrest, rather than return to Massachusetts. "If he's an expert of escape, he would not have returned to the United States," Robert Sheketoff, a lawyer for Michael Taylor, argued. He and other defense lawyers argued the case against their clients was flawed and that Michael Taylor, a U.S. Army Special Forces veteran and private security specialist, is at heightened risk of complications from COVID-19, which could spread in the jail. The hearing itself was held through a Zoom videoconference because of the coronavirus pandemic. U.S. Magistrate Judge Donald Cabell said he hoped to rule "as quickly as I can." Related Video:

Mitsubishi Electric unveils Emirai 4 autonomous EV concept for Tokyo

Mitsubishi Electric – a separate arm from Mitsubishi Motors ­– specializes in electronics. That includes things like air conditioning and refrigerators, but also covers a number of automotive systems and parts ranging from engine control units to power steering to electrification products. Now, Mitsubishi Electric is putting that expertise to use in the field of future mobility, unveiling an entire concept car, called the Emirai 4, for the Tokyo Motor Show. The Emirai 4 is electric, and can switch between normal and autonomous driving. It has a head-up display that uses augmented reality, powered by high-accuracy 3D mapping and positioning tech, to emphasize lane markings, making them more visible at night or in lousy weather. A central display is equipped with a sliding knob that can be assigned various functions, and is intended to help the driver keep their eyes on the road. The car is also equipped with a driver sensing system. It uses an interior camera to monitor the driver and passenger by detecting head position and posture. It can alert the driver to unsafe driving, respond to the driver or passenger's individual conditions to make them more comfortable, and aids in providing a smooth transition between autonomous and manual driving modes. The Emirai 4 also features an intelligent lighting system that detects when someone is going to open the door. That way, it can project an image onto the road and light up an alert on the rear of the car to alert passersby, hopefully preventing a collision with the door buy a pedestrian, cyclist, or another motorist. We'll be at the Tokyo Motor Show, so we'll be able to dig a little deeper into how these systems work (and get some better photos) when we see the Emirai 4 in person. This won't be the only concept bearing the Mitsubishi name at the Tokyo Motor Show. Mitsubishi Motors is planning its own unveiling of an electric vehicle called the e-Evolution. That all-wheel-drive SUV uses artificial intelligence to improve your driving skills. Mitsubishi has been teasing the e-Evolution, which borrows its name from the hardcore Lancer we all know and love, and it will get its full reveal next week. Related Video: