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Ex-Nissan chairman Carlos Ghosn indicted, may remain in jail for months

TOKYO — Nissan's ex-chairman Carlos Ghosn was charged Friday with breach of trust, according to the Tokyo District Court, making the star executive's release unlikely for months. Ghosn, arrested Nov. 19, was earlier charged with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. Ghosn; Greg Kelly, another Nissan executive; and Nissan as a legal entity also were charged Friday with additional underreporting of income, from 2015 through mid-2018. Ghosn's lawyer Motonari Ohtsuru said he would request that Ghosn be granted release on bail. His detention period for the breach of trust allegations was due to expire Friday. Kelly and Nissan were not charged with breach of trust. Those allegations center on Ghosn's handling of investment losses and payments made to a Saudi businessman. Ghosn, 64, says he's innocent. Suspects in Japan are routinely held for months until trials start, and Tokyo prosecutors maintain that Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, is a flight risk. Earlier this week Ghosn told a Tokyo court he was innocent, in his first public appearance since his arrest, and appealed for his detention to end. But the court rejected that request. "I have a genuine love and appreciation for Nissan," Ghosn told the court. "In all of my efforts on behalf of the company, I have acted honorably, legally and with the knowledge and approval of the appropriate executives inside the company." He said the compensation was never decided on, the investment deal never resulted in any losses to Nissan, and the payments to the Saudi businessman were for legitimate services related to dealers and investments in the Gulf. Ghosn, who appeared much thinner than before his arrest, came down with a fever the day after his court appearance, but has since recovered, Ohtsuru, the lawyer, said. His wife Carole Ghosn issued a statement overnight out of Paris, expressing concern over his sickness. "I am pleading with the Japanese authorities to provide us with any information at all about my husband's health. We are fearful and very worried his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment," she said. Apart from prosecutors, only embassy officials and Ghosn's lawyers are allowed to visit him. Such visits were canceled Thursday but resumed Friday.

2023 Mitsubishi Triton coming after the Ford Ranger overseas

The next-generation Mitsubishi Triton is coming soon to a trail near you — assuming you live outside of the United States. Known as the L200 in some global markets, the truck was shaped by a new, more rugged-looking design language that Mitsubishi calls "Beast Mode." Dark preview images published by the Japanese brand depict a pickup that has been reinvented from the ground up. While the current Triton features rather unusual proportions characterized by a slanted shut line and a super-sized rear overhang, its successor looks a little more conventional, though we'll make the final call when we see it in the metal. We spot a tall, upright front end with LED accents that Mitsubishi describes as "resembling the sharp gaze of a hawk" and a rectangular grille with both "Mitsubishi" lettering and the company's emblem. 2023 Mitsubishi Triton View 4 Photos We're curious to find out what's under the sheet metal. Mitsubishi recently expanded its European range with badge-engineered Renault models, such as the Clio-based Colt. Nothing suggests that the Triton is a badge-engineered version of another truck, and the current-generation Nissan Navara (which is unrelated to our Frontier) is likely too old to provide its platform. Could it be the other way around? Mitsubishi is part of the Renault-Nissan alliance, and the group strives to achieve economies of scale, so the Triton could also preview the next Navara. Of course, this is pure speculation. Nothing is official at this stage, and Mitsubishi isn't ready to release technical details. It hasn't published images of the interior yet, but a preview video embedded above suggests that upmarket models will receive a free-standing touchscreen for the infotainment system and a dial to select one of the transfer case's different options. Broadly speaking, we're expecting that the next Triton will offer a more SUV-like interior to reflect the fact that, even outside of America, buyers are increasingly using pickups as daily drivers. Mitsubishi will unveil the next-generation Triton in Thailand, where the model will be built, on July 26. The truck will be sold in a long list of nations, including several countries in Latin America and in the Middle East, but it doesn't sound like it will be offered in the United States. Elsewhere, the Triton will compete in an increasingly crowded ring against the Ford Ranger, the Volkswagen Amarok, and the Toyota Hilux. Related Video: This content is hosted by a third party.

Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video: