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Ghosn out at Nissan, still in at Renault, still in jail in Tokyo and facing more charges

When the corporate jet carrying Renault- Nissan- Mitsubishi CEO Carlos Ghosn landed at Tokyo Haneda airport on November 19, Japanese authorities had already taken position on the tarmac, waiting for him. Police and authorities representing Tokyo prosecutor's office boarded the plane to query Ghosn about financial improprieties, and ended up taking Nissan's chairman and CEO into custody. A few days later, on November 22, Nissan's board voted to remove Ghosn from both positions for what it classified as "significant acts of misconduct." The charges include understating his income in filings to the Tokyo Stock Exchange by at least $44 million, and misusing company funds. Japanese police arrested Greg Kelly as well, the high-ranking Nissan exec said to have assisted Ghosn in the subterfuge. Ghosn and Kelly remain on Nissan's board until a shareholder vote is held to decide those positions. Kelly was Nissan's first American director, and the carmaker's former head of human resources. In France, Renault's board voted to keep Ghosn in his positions, and has requested details from Nissan about the alleged improprieties. The board put Thierry Bollore in the role of deputy CEO with all of Ghosn's powers while Ghosn is "incapacitated," and lead independent director Philippe Lagayette will act as temporary chairman. Nissan has since told Renault that it is investigating financial malfeasance at RNBV, the Amsterdam-based joint-venture company that oversees the alliance. Mitsubishi has watched from afar, only saying it will perform its own investigation, and could remove Ghosn. Tokyo police can hold a suspect for 72 hours for initial questioning without charges. With the deadline looming, Tokyo prosecutors asked the court for, and were granted, a ten-day extension. If they choose, prosecutors can request another ten-day extension. Within 23 days, however, prosecutors either need to charge Ghosn and Kelly, or release them. There are several charges that acquire more details by the day. The most serious accusation is that Ghosn understated his pay from 2011 to 2015 by half, claiming roughly $44 million in remuneration when he actually received around $88 million. Over the weekend, it came out that Japanese prosecutors could be working on new charges of Ghosn under-reporting his salary since 2015 by $27 million. A Japanese newspaper said Ghosn told Kelly in an email to lie on the financial statements.

Court rejects Carlos Ghosn's request to attend Nissan board meeting

TOKYO — A Japanese court has rejected a request by former Nissan chairman Carlos Ghosn, released on bail last week, to attend the Japanese automaker's board meeting on Tuesday. Nissan dismissed Ghosn as chairman after his Nov. 19 arrest, but he remains on the board. The Tokyo District Court said it rejected Ghosn's request on Monday but did not elaborate on the reasons. It had been unclear whether Ghosn could attend the board meeting. The court's approval was needed based on restrictions imposed for his release on bail. The restrictions say he cannot tamper with evidence, and attending the board meeting could be seen as putting pressure on Nissan employees. Prosecutors had been expected to argue against his attendance. They were not available for immediate comment. Ghosn has been charged with falsifying financial reports in underreporting his compensation and breach of trust in making payments to a Saudi businessman and having Nissan shoulder investment losses. He insists he is innocent, saying the compensation was never decided or paid, the payments were for legitimate services and Nissan never suffered the losses. Since his release on March 6 from Tokyo Detention Center on 1 billion yen ($9 million) bail, he has been spotted taking walks in Tokyo with his family, but he has not made any comments. His attempt to exercise what his lawyer, Junichiro Hironaka, called his "duty" by attending the board meeting signals one way he may be fighting back. Hironaka has said Ghosn will speak to reporters soon. A date for a news conference has not been announced. Nissan said Monday that Renault Chairman Jean-Dominique Senard, Renault Chief Executive Thierry Bollore, Nissan Motor Co. CEO Hiroto Saikawa, and Osamu Masuko, the chairman and CEO of Mitsubishi Motors Corp., will hold a joint news conference Tuesday after the board meeting. Nissan appears determined to highlight new leadership without Ghosn. It is part of an alliance with Renault SA of France, and more recently with Japan's Mitsubishi Motors, that was largely cobbled together by Ghosn, who led Nissan for two decades. Nissan, which makes the March subcompact, Leaf electric car and Infiniti luxury models, has denounced Ghosn for alleged misconduct. A decision at a shareholders' meeting is needed to remove Ghosn from the board. A shareholders' meeting is scheduled for next month.

Recharge Wrap-up: Zero to debut 2015 lineup, Nissan extends New Mobility carsharing in Japan

Nissan is extending its carsharing service in Yokohama, Japan for another year. The service, called "Choimobi Yokohama," will use data gathered during its first year to make improvements going forward, including new payment options. The one-way service provides users zero-emission driving with Nissan's New Mobility Concept EVs. Nissan will scale back the number of vehicles from 70 to 50 for the second year. As of September 15, membership was at 10,651 users. Read more in the press release, below. In other Nissan news, the company has a new ad showcasing the benefit of the Leaf's available torque. The video depicts one of the fun parts of driving an EV, which is having 100 percent of the torque available from zero rpm, and shows a Leaf driver pulls away quickly from a stoplight in an impromptu drag race. The ad finishes by reminding Leaf drivers to "use your torque wisely." Watch it below. Analysts predict a booming EV charging infrastructure in South Korea. Government subsidies will encourage this rapid expansion, as the Ministry of Environment South Korea has a plan to fully fund level 2 chargers, plus the installation fee for DC chargers. The availability and shorter charging time of these stations are likely to help convince people to adopt EVs, as well. Analysts at Frost & Sullivan predict 90,000 charging stations around the country by 2020, as you can see in the press release below. Zero Motorcycles is set to debut its 2015 line of electric motorcycles. They will first be unveiled at Intermot in Cologne, Germany beginning September 30. The new all-electric models will then see their US launch at AIMExpo in Orlando, Florida beginning October 16. Zero Motorcycles VP of Global Marketing Scot Harden says, "We are confident that the new line will exceed expectations and look forward to seeing how the motorcycle world responds." Read more in the press release, below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan Extends its Groundbreaking 'Choimobi Yokohama' Car Sharing Service for Another Year YOKOHAMA, Japan (September 19, 2014) - Nissan Motor Co., Ltd and the City of Yokohama revealed today that they will extend the one-year trial run of the first large-scale One-way Car Sharing Service in Japan, called "Choimobi Yokohama," for another year. The service, which kicked off on October 11, 2013, features Nissan's New Mobility Concept electric vehicles.