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Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

Datsun Redi-Go is reborn brand's first concept car [w/video]

Nissan's plan for its reborn Datsun sub-brand just got a shot in the arm, as the emerging-market manufacturer has unveiled its first concept car since its resurrection back in 2012. Called the Redi-Go Concept, it looks like a high-riding version of Datsun's recently launched Go hatchback that's been fitted with a few concept car cues (not a bad thing).
The Redi-Go packs LED taillights, Datsun's "D-cut grille" and LED running lights into its Go-inspired body. Funky two-tone 15-inch wheels add a bit of cheek to the overall design, and in our minds look quite good, despite being so small. The ruggedized front and rear bumpers, as well as the sill and wheel arch surrounds add to the Redi-Go's rough-and-tumble aesthetic. We like that Datsun has kept the overall package short, giving the Redi-Go a 92.5-inch wheelbase, rather than creating a lifted version of the upcoming Go+. There are no specific mentions of the Redi-Go's mechanicals, although we'd wager that a production model might share the 1.2-liter engine and five-speed manual found in the standard Go.
While it might be easy to dismiss a concept like the Redi-Go in America, there's no denying its importance to the Indian market, which is decidedly more limited when it comes to available bodystyles. "If we were to make a car like Datsun Redi-Go Concept it would be a segment creator in India, an aspirational car that at the same time is attainable, a car that would be within reach of the first time buyer. This concept shows how serious we are about reinvigorating the market by catering for the needs of a growing class of Indians who have the chance to own a family car that will enable them to enjoy a new sense of independence," said Vincent Cobee, the global head of Datsun.

Recharge Wrap-up: Renovo Coupe at CES, Aussies tour US in Tesla Model S

Australians review the Tesla Model S in a Seattle to LA road trip video. The folks from CarAdvice drive the P85+ along the West Coast of the US, testing out the car, trying the Superchargers, stopping by some notable sites along the way and even making use of roadside assistance. While the video shows what it's like to take the Tesla on a US road trip, it gives viewers Down Under a glimpse of their own future. Tesla just began sales in a country that, while on the other side of the globe, also features long distances between cities and a new Supercharger network. Check out the video below or read more at Inside EVs. A UK taxi company is introducing the Nissan e-NV200 to its fleet. C&C Taxi, which has been using six Nissan Leafs in its Cornwall taxi service since early December, has added the passenger-ready e-NV200 Combi to its stable of cabs. Mark Richards, manager of C&C's fleet, is happy with its performance and money saved after over 1,000 miles of service so far, and plans to replace the rest of the diesel fleet with EVs. The Nissan e-NV200 Combi "does everything the Leaf does but is much bigger and offers more space," says Richards. "We'll definitely be ordering more." Learn more in the video below or read more at Hybrid Cars. Learn more about Nissan's fleet EVs at the company's website. The US Department of Energy has released a new report on EV charging behavior and its impact on the grid. The report, which covers grant projects from six different utilities, includes data from over 270 public chargers and 700 residential charging units. Most at-home charging took place at night during off-peak hours. There were some reports of problems with chargers and smart meters working together. Most public charging took place during peak hours, but was low compared to home charging. This means a longer cost recovery period due to the high cost of installation. See the report at the DOE website or read more at Green Car Congress. The Renovo Coupe will be on display at the NVIDIA booth at the 2015 Consumer Electronics Show (CES) for its first public viewing. Renovo Motors CEO Christopher Heiser says, "These are very exciting times for Renovo and we think our new technology, coupled with NVIDIA's breakthroughs in automotive applications, has the potential to make a tremendous impact across the entire automotive industry." The Shelby Daytona-bodied Renovo offers 500 horsepower and 1,000 pound-feet of torque from two electric motors.