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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: Electric trucking, Mitsubishi plug-in sales boost

A company called Oakridge Global Energy Solutions is providing batteries to Minnesota's Freedom Trucking. Oakridge claims the electric freight trucks can haul nearly 40 tons of cargo almost 400 miles on a single charge. "The custom battery design for Freedom Trucking is an absolute game changer," says Oakridge CEO Steve Barber. The Melbourne, Florida-based startup also says it is providing lithium-ion batteries for Harley-Davidson, Indian, and Victory motorcycles. (Notably, Oakridge was accused last year of failing to pay its employees. Also, of note, Oakridge trades as OGES on OTCQX, the same over-the-counter market as Elio Motors.) Read more from Energy Matters. A new UK poll suggests that nearly a third of drivers would choose a plug-in vehicle for their company car. 23 percent of respondents said they'd choose a plug-in hybrid for their fleet car, while 8.2 percent would choose a battery electric vehicle. Another 7.1 would choose a conventional hybrid, and 47.2 percent still prefer diesel, while only 12.4 percent would choose gasoline (it is, after all, the UK). In all, the poll (with an admittedly small sampling of 282 respondents) shows that alternatively powered vehicles will make up 40.4 percent of future fleet orders will. A recent survey from KPMG shows that 79 percent of auto executives believe hybrids will be the go-to powertrain in 2030. Read more from Fleet News. A reduction in plug-in car subsidies has boosted Mitsubishi's UK sales in February. As the Plug-In Car Grant was set to reduce from GBP5,000 to GBP2,500 ( from about $7,117 to $3,559) on March 1, Mitsubishi saw a run on its Outlander PHEV by customers looking to take advantage of the larger subsidy. Outlander PHEV sales were up 41 percent compared to a year before. The launch of the L200 Series 5 also helped Mitsubishi's performance in February, as pickup truck sales were up 34 percent. Read more in the press release below. PLUG-IN CAR GRANT CHANGE DRIVES MITSUBISHI SALES IN FEBRUARY CIRENCESTER – Sales of Mitsubishi vehicles in February were up 28 per cent compared to the same month last year according to figures released by the SMMT. The rise was driven by a 41 per cent increase in sales of the Outlander PHEV, ahead of the reduction in the Plug-in Car Grant from GBP5,000 to GBP2,500 beginning March 1. The UK's favourite plug-in continues lead the hybrid and electric car sector in 2016.

Junkyard Gem: 2003 Mitsubishi Diamante VR-X

Mitsubishi has been selling cars and light trucks under its own name in the United States since the Starion, Tredia, Cordia and Mighty Max appeared here as 1983 models, but only one big luxury sedan has ever been in the Mitsubishi Motors USA lineup: the Diamante. For the last few years of the Diamante's availability here, a factory-hot-rod version of the Diamante known as the VR-X could be purchased. Here's one of those extraordinarily rare cars, now residing in a Denver-area self-service wrecking yard. The Diamante was the successor to the Mitsubishi Sigma, an upscale "pillared hardtop" version of the fifth-generation Galant. The Sigma sold poorly here, but Mitsubishi had hopes of stealing some American-market sales from the strong-selling Lexus ES and Acura Legend. Making a North American version of the swanky Mitsubishi Debonair didn't seem like a wise investment (though some Debonair DNA eventually showed up here, within the Hyundai XG), and so the brand-new Diamante made its North American debut as a 1992 model. The first-generation Diamante was available in both sedan and wagon form, with the wagon getting the axe here after 1995. The second-generation Diamante sedan appeared in American Mitsubishi showrooms as a 1997 model, with sales here continuing through 2004. There was a facelift for the 2002 model year, after several miserable sales years in the United States, and the sporty VR-X version was added to the lineup at that time. The VR-X got some cladding, white analog gauges, a louder audio system, some performance upgrades and a fast-and-furious optional spoiler. The MSRP for the '03 VR-X was $27,557, or about $46,362 in 2023 dollars. The VR-X's engine was a 3.5-liter 6G-series V6, rated at 210 horsepower. This was just five horses better than the regular Diamante's 3.5-liter. All 2003 Diamantes sold in the United States came with mandatory four-speed automatics.  This car, like the Diamante wagons of the middle 1990s, was built in Australia. The leather seats came with VR-X embossing. This is a good example of a rare special-edition car that's not worth much now. Perhaps some Front Range Mitsubishi enthusiast will buy the unique VR-X wheels and other bits before this car goes to the crusher. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 0% interest, zero down payment, zero payments until 2004 on all new Mitsubishis. This content is hosted by a third party.