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Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.

Recharge Wrap-up: Nissan Leaf's UK milestone, SF's renewable diesel

San Francisco's municipal fleet will use renewable diesel, according to Mayor Edwin M. Lee. Switching to the greener fuel will reduce the fleet's greenhouse gas emissions by more than 60 percent. "By changing our fleet's fuel from petroleum to renewable diesel, we're taking action that is good for the global climate, and at the same time promotes environmental justice in our community by leading to cleaner, healthier air for some of our most vulnerable neighborhoods," Lee says. While renewable diesel is more expensive than the petroleum-based product, with government incentives, it could end up saving the city money. Read more from Biodiesel Magazine. Nissan has sold its 10,000th Leaf in the UK. As of July 6, Nissan has tallied 10,161 Leaf sales since its 2011 launch in the UK. More than half of those were sold in the last 12 months. Nissan sold 2,964 Leaf EVs in the first half of this year, an increase of 69.4 percent over last year. "The UK's electric vehicle market is growing at an extraordinary pace," says Nissan's James Wright, "and while it may be too early to talk about tipping points, today's achievement certainly indicates we're well on our way." The Nissan Leaf is the best selling battery electric vehicle in the UK. Read more from EV Meerkat. ClipperCreek has added a new 40-amp EV charger to its lineup. Called the HCS-50, the 240-volt level 2 charger is designed to serve both residential and commercial markets. "The HCS-50's rugged design and ample 25 foot charging cable make it a perfect solution for fleet and commercial applications," says ClipperCreek Sales Manager Will Barrett. "As battery range increases, the vehicle's ability to accept power is increasing, too, and the HCS-50 offers users extra power to get their vehicles charged up and back on the road fast." The HCS-50 charging station is priced at $835. Read more in the press release below. ClipperCreek Announces Availability of HCS-50 Electric Vehicle Charging Station Top selling EVSE manufacturer releases high-powered 40 amp EV charging station AUBURN, Calif., July 22, 2015 /PRNewswire/ -- ClipperCreek has added the HCS-50 electric vehicle charging station to their product line. The HCS-50 is a powerful and rugged 40 amp station paired with a highly durable rubber overmolded cable and vehicle connector. Offering power, reliability and value, this 240 volt, level 2 electric vehicle charging station, rated for both indoor and outdoor use, is priced at $835.

Nissan Gripz Concept foreshadows Z's dark future

Crossover buyers, your love of lifted hatchbacks might be ruining one of the purest sports cars on the planet, the Nissan Z. The Gripz concept you see here foretells a future in which our beloved Z car takes the shape of a functional, high-riding crossover. Sigh. Now, to be perfectly fair, we aren't opposed to the way this new concept car looks. It's a muscular design, with its prominent V Motion grille and sharp body lines. We particularly like the way the A-pillar bleeds into the doors and dash; it's a cool touch. Nissan claims this look was inspired by racing bicycles and desert rally cars, which sounds good. We won't agree with the company's assertion that it pays homage to the 240Z that won the Safari Rally, which Nissan has the gall to call "one of [its] first 'crossovers.'" A 240Z is not a crossover, just like the Mitsubishi Lancer Evolution, Subaru STI, Ford Focus, Volkswagen Polo, or any other rally car is not a crossover. In terms of praise, we do appreciate the Gripz's trio of doors, which is certainly more sporting than a conventional five-door layout. That's not the only good news, either. This concept is actually shorter and wider than the current 370Z, and by several inches in both cases. It is, however, seven inches taller than the low-slung two-seater, which makes this a net loss. Under hood, there's not some barking, turbocharged version of the current 370Z's 3.7-liter V6, but a version of the Leaf EV's electric motor. It's paired up with a gas-powered engine that "is used to power the electric motor," making it sound like this is more of a Chevrolet Volt-style hybrid than a Toyota Prius. Of course, there's no mention whether the Gripz has plug-in capability. We'll admit, our disdain for this vehicle may be premature. Nissan has not given any indication that the 370Z will be discontinued – it was recently updated, and a Nismo-based roadster concept was shown earlier this year – or that the Z family will transition to a CUV platform. But, the language used throughout the press release below, not to mention the name and references to the original Z is rather worrying. It's certainly not the relationship to the 240Z we were hoping for when we posted this report back in June. Check out the PR, as well as the official gallery from Nissan, both of which can be found down below. Up top, you can see our live images from the floor of the Frankfurt Motor Show.