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Renault names new leaders as jailed Carlos Ghosn bows out

PARIS — Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after Carlos Ghosn was forced to resign in the wake of a financial scandal that has rocked the French carmaker and its alliance with Japan's Nissan. Senard will become chairman immediately, the company said, with deputy chief executive Thierry Bollore taking over Ghosn's other Renault role as full CEO. The appointments may begin to ease a Renault-Nissan leadership crisis that erupted after Ghosn's Nov. 19 arrest in Japan and swift dismissal as Nissan chairman. Senard, 65, now faces the task of soothing relations with Renault's Japanese partner and resuming talks on a new alliance structure to cement the 20-year-old partnership. "It's important that this alliance remain extremely strong," Senard told reporters after a board meeting - citing the mounting investment demands of new vehicle technologies. "It is our compulsory duty to go forward together." Ghosn's exit also marks a clear end to one of the auto industry's most feted careers, two decades after he was despatched by former Renault boss Louis Schweitzer to rescue newly acquired Nissan from near-bankruptcy — a feat he pulled off in two years. After 14 years as Renault CEO and a decade as chairman, Ghosn formally resigned from both roles on the eve of the board meeting. Ghosn's arrest and indictment for financial misconduct has strained the Renault-Nissan relationship, threatening the future of the industrial partnership he transformed into a global carmaking giant over two decades. For two months, the tensions deepened as Renault and the French government stuck by Ghosn despite the revelation he had arranged to be paid tens of millions of dollars in additional income, unbeknownst to shareholders. Ghosn has been charged with failing to disclose more than $80 million in additional compensation for 2010-18 that he had agreed to be paid later. Nissan director Greg Kelly and the Japanese company itself have also been indicted. Both men deny the deferred pay was illegal or required disclosure, while not contesting the agreements' existence. Ghosn has denied a separate breach of trust charge over personal investment losses he temporarily transferred to Nissan in 2008. Ghosn had agreed in recent days to step down from Renault, Reuters reported on Tuesday — but only after the French government, Renault's biggest shareholder, called for leadership change and his bail requests were rejected.

Hyundai Tucson Adventuremobile ready for camping at SEMA

A troop of customized 2016 Hyundai Tucsons will be making their way to the company's SEMA Show display in Las Vegas, NV, this year, and now there'll be one more in attendance, too. Joining hardcore offroad and high-horsepower takes on the crossover is the Adventuremobile from tuner John Pangilinan for those that love the outdoors but still need a vehicle to commute to work during the week. The Adventuremobile has everything for a camping excursion. There's no worry about where to rest in the wilderness thanks to a roof-mounted tent that sleeps two, and solar panels keep electronics topped up. An LED light bar should mean no problems finding the perfect spot, either. Even the cabin is a comfy place for a drive to the campsite with an upgraded stereo and Katzkin leather upholstery. The crossover looks rugged thanks to a coat of army green paint, but this tuned Tucson keeps the rest of the mods fairly realistic for the average adventurer. For a little added ability offroad, there's a 1.5-inch suspension lift and Toyo Open Country A/T II tires on some Rays wheels. The powertrain also gets some small tweaks with some new plumbing by AEM and a Magnaflow exhaust. The whole package seems like a great tool for spending a weekend in the woods. JOHN PANGILINAN CREATES TUCSON ADVENTUREMOBILE FOR SEMA FOUNTAIN VALLEY, Calif., Oct. 19, 2015 – John Pangilinan, the renowned Southern California tuner known for creating vehicles that blur the lines between lifestyle and automotive, has released details on his 2016 Tucson SEMA build. Dubbed the "Adventuremobile," the vehicle blends Hyundai's new crossover platform with a passion for the great outdoors, perfect for the weekend getaway. The car will be revealed at Hyundai's SEMA press conference on November 3 at 11:30 a.m. PT, in Las Vegas. The "Adventuremobile" is just as home on the daily commute as it is lugging gear up into the mountains for the weekend out of town. Most obvious is the addition of a Treeline Tamarack roof-top tent, with ample room to sleep two campers, and Goal Zero solar panels to power all of their accessories. The exterior has been beefed up with the addition of an Aries bull bar and side steps, Rigid Industries LED lights, and the vehicle has been finished in a BASF army green paint scheme by Strasse Sport. A custom 1.5-in.

Fisker stock trades halted as talks with Nissan collapse

Fisker's talks with a large automaker for a potential deal have collapsed, it said on Monday amid growing uncertainty for the cash-strapped startup that last week paused electric-vehicle production.  Trading in the shares of the company, which did not name the automaker with which it was in talks, has been halted pending an announcement.  Fisker also said it will not be able to meet a closing condition related to its attempt to raise up to $150 million in funding by selling convertible notes after missing an interest payment.  Separately, Fisker said it would ask investors to vote on a proposal for a reverse stock split at a shareholder meeting on April 24, as it looks to maintain compliance with the Nasdaq's listing norms.  Reuters had reported earlier this month that Nissan was in advanced talks to invest in the company, however, earlier in the day, the Japanese automaker held an event in which it announced a long-term business plan, including its EV strategy, and said it was looking for partners in the United States.  Raising funds has been hard for loss-making electric vehicle startups, which have little in way of revenue as they struggle to ramp up production and deliver to customers, as the companies battle stiff competition and a tough economy.  The EV startup's shares have cratered this year, losing more than 90% of their value, after it flagged going concern risk in February and paused investments in future projects until it secured a partnership with an automaker.  Fisker pivoted to a dealer-partner model earlier this year, after it delivered less than half of the vehicles it made in 2023 due to logistics issues.    Earnings/Financials Fisker Nissan