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Ghosn calls Renault and Nissan financial results 'pathetic'

PARIS — Former Nissan Chairman Carlos Ghosn took a swipe at his old employers in a newspaper interview on Sunday, calling the Renault and Nissan results "pathetic," driven as much by a lack of joint leadership than the COVID-19 pandemic. Ghosn, who was also the chairman of Mitsubishi Motors, was arrested in Japan in late 2018 on charges of underreporting his salary and using company funds for personal purpose — charges he denies. He fled to Lebanon from Japan. "There is a market confidence problem in the alliance. Personally, I find the results of Nissan and Renault pathetic. The two companies are looking inwards. There is no longer any real mix of management between Renault and Nissan, but a distrustful distance," he told Le Parisien newspaper. Ghosn compared the share price fall from November 2018 to June 2020 of competitors General Motors and Toyota of 12% and 15% respectively to Nissan dropping 55% and Renault 70%. "All of these manufacturers are facing the same COVID crisis, but Renault and Nissan are being punished more than the others,' he said. Ghosn fled Japan to Lebanon, his childhood home, in December as he awaited trial on charges of underreporting earnings, breach of trust and misappropriation of company funds, all of which he denies. Ghosn was questioned in Lebanon in January. He has said he will cooperate fully with the Lebanese judicial process, but it is unclear what cooperation there will be between Tokyo and Beirut. French prosecutors have also stepped up their investigation into alleged misappropriation by Ghosn of funds at Renault and had summoned him in France on July 13, but he did not attend. "There is a technical obstacle. My passport is in the hands of the attorney general in Lebanon, because Japan has issued an international arrest warrant for me," Ghosn said. "I also want to be sure that my security is assured and that I am guaranteed freedom of movement." Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. CES 2020 and Carlos Ghosn | Autoblog Podcast #609

Renault chairman dismisses reports Nissan wants to split from alliance

PARIS — Renault Chairman Jean-Dominique Senard said on Thursday there was a "real desire" within the top ranks of both companies for its alliance with Nissan to succeed, dismissing suggestions the partnership was on the rocks. Turmoil within the Franco-Japanese alliance, long dogged by internal rivalries, deepened following the November 2018 arrest in Tokyo of its architect and long-time boss Carlos Ghosn on charges of financial crimes, which he denies. Attempts to restore calm were dealt a fresh blow by Ghosn's dramatic flight from Japanese justice and a series of no-holds-barred allegations he has made from his refuge in Lebanon, including that he was the victim of a plot to oust him and that the alliance is now a "masquerade". Nissan has vigorously rejected Ghosn's stance, while both the Japanese firm and Renault have tried to rubbish suggestions their two decades old partnership is falling apart. "We have a board overseeing the alliance which is made up of people who are all extremely in favor of the alliance," Renault Chairman Senard told a briefing with reporters. "There is a common desire to associate our strategic plans and a real desire to make this alliance a success," he added, dismissing a report that Nissan was examining scenarios for a possible future outside of the alliance as "fake news." The 66-year-old declined to comment on anything related to Ghosn, adding: "I only think about the future." Renault shares were down 2% by 1123 GMT, underperfoming the broader auto sector which was down on news that Washington has threatened to impose tariffs on European car imports due to Europe's stance on Iran. Renault's French rival and Peugeot maker PSA Group also gave a flavor of some industry headwinds, reporting a 10% fall in its global sales last year as Chinese demand tanked. Renault is due to publish its 2019 global sales on Friday. JOINT PROJECTS Analysts see Renault-Nissan's cost-saving alliance as vital to both companies as the car industry battles a slowdown and huge investments in cleaner vehicles and automated driving, particularly as rivals PSA and Fiat Chrysler are merging to help meet these challenges. Renault held ultimately unsuccessful talks to combine with Fiat Chrysler last year, which Ghosn described at a Beirut news conference as a huge missed opportunity. Senard, who chairs the alliance's operating board, said on Thursday that once the partnership has been rebooted, other firms might potentially want to join.

NHTSA investigating Bosch Power Xpress 240V EV chargers for fire risk

*UPDATED with Bosch's comment. Let's stamp out the flames of suspicion right up front. A new National Highway Traffic Safety Administration (NHTSA) investigation, while involving a 2013 Nissan Leaf and some smoke, is not about another EV fire. Not directly, anyway. "Nissan has determined by pictures that the car was not to blame for the incident" – NHTSA complaint This time, the subject of the NHTSA's lens is the Bosch Power Xpress 240V charging unit. NHTSA wants to know if an overheating charging cord caused smoke (NHTSA says there was no actual fire) in a Leaf owner's garage last fall. NHTSA says it will investigate, "to evaluate the scope, frequency, and consequence of the alleged defect." Up to 50 of the charging units could be involved, and NHTSA decided to act based on a single customer complaint that was filed in August 2013. The investigation opened April 15, so it will likely be a while before we know any more concrete details. For now, you can read the official details of the investigation and the original complaint - which says, "Nissan has determined by pictures that the car was not to blame for the incident. They are blaming the charging station for the failure. They have denied any warranty coverage. The burden of the bill has been placed with the customer" – below. Nissan's senior manager of corporate communications, Brian Brockman, sent AutoblogGreen a statement that says Nissan will work with NHTSA and Bosch and points out that, "This inquiry is focused on the electric vehicle charger and is directed at the charger supplier, Bosch." Requests for comment from Bosch were not returned, but we will update this post when we hear back. Bosch spokesperson Cheryl Kilborn told AutoblogGreen that, "Bosch is reviewing the filing and will work cooperatively with NHTSA as we seek to identify the root cause." INVESTIGATION Subject : Bosch EV charging cord overheating Date Investigation Opened: APR 15, 2014 Date Investigation Closed: Open NHTSA Action Number: PE14011 Component(s): ELECTRICAL SYSTEM All Products Associated with this Investigation close Equipment Brand NamePart No.