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Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Is Nissan's Le Mans LMP1 racer really going to be front engined?

Since debuting the Nissan GT-R LM Nismo under a sheet earlier this year, Nissan has kept a very tight wrap on details about the racer. The company simply promised that the model would be on the starting grid for the 2015 24 Hours of Le Mans. However, the automaker had an aggressive attitude about the new program and said that the vehicle would "win in a very different way." The brand also hinted the final result wouldn't look like its competitors. This rendering suggests just how divergent the GT-R LM might be. Posted by Jalopnik, the rendering was supposedly based on the descriptions of people who have actually seen the racer. They described a car with a very long nose, and a rear that was potentially narrower than the front. From those details the pictures of a reverse Deltawing is almost conceivable. Judging by the original teaser image, this description actually sounds somewhat plausible too. The draping of the sheet in that photo could suggest some empty space at the back. According to this rumor, underneath that long snout could be an even bigger revelation – the engine. These days putting the powerplant ahead of the driver in a top-class endurance racer – even if it's behind the front axle for a mid-engine layout – is almost unheard of. Nissan trying it would certainly fall under a different way of winning. Though, such a thing was done by Panoz in the 2000s. Nissan is clear about keeping the racecar and road version at least somewhat related, especially technologically. Jalopnik speculates that the engine could be a gasoline-fueled twin-turbocharged V6 powering the rear wheels and a hybrid spinning the front and rear with a total system output of 1,000 horsepower or more. That figure is right on the money for modern LMP1 cars since the 2014-championship winning Toyota TS040 packs about 986 hp total. In the past few years, Nissan has failed to finish Le Mans with both the Deltawing that it sponsored and the ZEOD RC project. If these rumors prove true, then even getting the GT-R LM to see the checkered flag could be quite an accomplishment no matter where it finishes. Rumor has it that Nissan might show at least a glimpse of the vehicle during the company's Super Bowl ad this year. Related Gallery 2015 Nissan GT-R LM Nismo Announcement View 16 Photos News Source: JalopnikImage Credit: Jason Torchinsky via Jalopnik Design/Style Motorsports Nissan Racing Vehicles rendering nissan gt-r lm nismo nissan gt-r lm