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Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.

Mitsubishi reverses course on European exit with help from partner Renault

Mitsubishi will remain in some European markets after all, a surprise announcement from the company and its alliance partners Renault and Nissan confirmed early Wednesday. This is a reversal of what was expected after several rounds of restructuring were announced in 2020 as the company looked ahead to a $3.4 billion loss.  From the announcement, we can gather that Mitsubishi's survival on the continent comes care of its partners, who will supply vehicles that have already been approved for sale in Europe to be offered alongside the Mitsubishi Eclipse Cross plug-in hybrid. The announcement refers to them as "sister models [...] with differentiations," which could mean anything from typical platform-sharing to some old-fashioned badge engineering. Given the company-wide cost-saving efforts, we're inclined to believe it's more along the lines of the latter.  "Mitsubishi Motors has decided to procure OEM-model vehicles from Renault, best-sellers on the European market which already meet regulatory requirements, for selected major markets in Europe," the announcement said. "Starting 2023, Mitsubishi Motors will thus sell two 'sister models' produced in Groupe Renault plants, which are based on the same platforms but with differentiations, reflecting the Mitsubishi brand’s DNA." The Alliance has also not yet confirmed which markets will remain open to Mitsubishi, however Automotive News has confirmed that the UK will not be one of them. Mitsubishi has already launched its updated Eclipse Cross lineup, but the forthcoming PHEV has yet to be fully detailed. The company said it has no plans to bring it to the United States, where the Outlander PHEV has moved in only limited volume.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Mitsubishi Outlander crossover SUV reveal

Mitsubishi's nip-and-tucked Eclipse Cross shows its face for the first time

Mitsubishi's long-promised new models are right around the corner. It released a dark image to preview the 2022 Eclipse Cross, which will boast comprehensive visual updates when it arrives in the first quarter of 2021. Although the photo keeps the full design under wraps, we can tell the Eclipse Cross falls in line with the rest of the Mitsubishi range by adopting new-look headlights with swept-back LED accents and thick pieces of C-shaped trim. Few would qualify these changes as revolutionary, but bigger modifications are found out back. The preview image suggests — and earlier spy shots confirm — that stylists have smoothed out the crossover's rear end, which some have likened to the unfortunate Pontiac Aztek. The end result is a sleeker, less hunchback-like design. Mitsubishi claims the nip-and-tuck makes the Eclipse Cross look more upscale and energetic. We'll wait until it shines more light on its entry-level crossover to decide if it has achieved its goal. Our hopes are high, because the Eclipse Cross will usher in the design language that will permeate all of the brand's new models in the 2020s. "The Eclipse Cross is the first step toward the next generation of Mitsubishi Design, and there is so much more to come," said Seiji Watanabe, the general manager of the company's design department, in a statement. Mitsubishi focused on exterior design, but we're assuming the 2022 update will also bring a new-look interior. We don't know if the firm will make mechanical changes. As of writing, the Eclipse Cross is only offered with a turbocharged, 1.5-liter four-cylinder engine that makes 152 horsepower and 184 pound-feet of torque. It spins the front wheels via a continuously variable transmission (CVT), though all-wheel drive is offered at an extra cost. Additional details about the 2022 Mitsubishi Eclipse Cross will emerge in the coming months. When it arrives, it will join the updated Outlander PHEV (which will receive an improved hybrid powertrain) and the redesigned Mirage in showrooms. Finally, the next-generation Outlander is due out in the second quarter of 2021. Mitsubishi Crossover