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Nissan files civil suit against Ghosn, seeking $91 million in damages

TOKYO — Nissan filed a civil suit Wednesday seeking 10 billion yen ($91 million) in damages from the Japanese automaker's former Chairman Carlos Ghosn. Nissan filed the case in Yokohama District Court to recoup some of the monetary damages suffered, it said, “as a result of years of misconduct and fraudulent activity" by Ghosn. The claim was calculated by adding the costs from what Nissan called Ghosn's “corrupt practices,” such as rent for overseas property, use of corporate jets and payments to Ghosn's sister, as well as costs for the internal investigation into Ghosn's alleged wrongdoings. Representatives of Ghosn said in a statement they couldn't comment as they had yet to see the legal documents. “Nissan's maneuvers continue,” they said, while noting Nissan had claimed larger damages before. Ghosn, who led Nissan for two decades and saved it from near-bankruptcy, was arrested in Japan in November 2018, and charged with underreporting his future compensation and breach of trust in diverting Nissan money for personal gain. He was awaiting trial but skipped bail and showed up in Lebanon late last year. Japan has no extradition treaty with Lebanon, and he's unlikely to be arrested. A date had not been set for his trial, and Ghosn has said he was worried his ordeal would never end and he would not get a fair hearing. The bail conditions also barred him from seeing his wife. He has repeatedly lashed out at Japan's judicial system, where the conviction rate is higher than 99%. Japanese authorities recently issued an arrest warrant for Ghosn and three Americans, accused of helping his escape. Separately, they issued an arrest warrant for Ghosn's wife on suspicion of perjury. Ghosn has repeatedly said he is innocent, saying that the promised compensation had never been decided, and all the payments were for legitimate services. Wednesday's lawsuit by Nissan comes on top of the civil case Nissan filed against Ghosn in the British Virgin Islands in August last year. It alleged unauthorized payments, sought to regain a luxury yacht and pursued other damages, according to Nissan. Yokohama-based Nissan, which makes the Z sportscar, Leaf electric car and Infiniti luxury models, is also facing trial in Japan as a company in relation to Ghosn's scandal. It has indicated it will agree to any penalties. Nissan's reputation has been sorely tarnished over the Ghosn fiasco, and its sales have dropped. Nissan reports financial results Thursday.

FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

2019 Mitsubishi Eclipse Cross Quick Spin Review | Space and power make it worth your consideration

The subcompact crossover market is one of the fastest growing segments in the industry. That can make it tough to stand out. Some highlight style, like with the Hyundai Kona and Jeep Renegade. Some go for a bargain focus such as with the Nissan Kicks. Our subject in this case, the 2019 Mitsubishi Eclipse Cross, earns a look for its remarkable space, strong powertrain and generally good value. The Eclipse Cross's spaciousness is its ultimate party trick, especially for its small size. From the driver's seat, your 5-foot 11-inch and somewhat heavy author could find a very comfortable driving position with loads of head room and leg room. The seating position is high with loads of visibility. The generous headroom also keeps you from feeling like you're sitting on top of the car. The front seats don't have much shape to them, but the cushions are thick and soft enough that they're plenty comfortable. I was also surprised at how easy it was to get in and out of the Eclipse Cross. The door opening is quite large, thanks to a high roof and reasonably low floor, plus the relatively high seat. This kind of easy ingress and egress I don't see often except for in minivans such as our long-term Chrysler Pacifica. More impressive than the space in the front is the space in the back. I could sit behind myself with a few inches to spare in front of my knees. I can't even say that about many comparably-sized cars let alone the current crop of cramped crossovers. The back seats are flat and firmer than I would like, but they do recline and can slide fore and aft to make more room for cargo or passengers. All of this fits into a package that's about 5 inches shorter than a Honda Civic hatchback, one of the most spacious small cars on the market. Cargo space is close to the Civic, too. With the seats up, it's slightly behind the Honda at 22.6 cubic feet (22.1 for our SEL with the subwoofer and moonroof) versus 25.7. But with the 60/40 split seats folded, the Eclipse Cross jumps ahead with 48.9 cubic feet versus the Civic's 46.2. The rest of the interior is less impressive. The plastics, while varied in texture and finish, are cheap and hard. The infotainment offers two ways to interact with it, either with the touchscreen or a touch pad, but neither is great. The touchscreen is far away, and the touch buttons on either side are annoying, and the touch pad is only slightly better than the terrible Lexus touch pad interface.