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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.

Mitsubishi still wants to bolster US sedan lineup, investigating options

Mitsubishi looked healthy in 2014 with a nice sales boost for the year, but so far 2015 hasn't been quite so pleasant with news of product delays or outright cancelations. The Japanese brand isn't letting the setbacks get it down, though, and is still planning for the future. Perhaps the biggest recent disappointment was that Mitsubishi and the Renault-Nissan Alliance scuttled plans to bring a South Korean-built, midsize sedan to the US under Mitsu's branding. The scheme was first announced in late 2013 and would have given the Japanese automaker a replacement for the long-retired Galant. According to Automotive News, the decision came because high exchange rates with the Korean won and Japanese yen against the US dollar made the Asian-built vehicle too costly. Mitsubishi isn't throwing in the towel on the possibility of a larger four-door in the US, just yet. One solution might be retooling the company's US factory in Normal, IL. According to Automotive News, the plant current exports over half of the Outlander Sport units that it builds. That capacity could switch to a new sedan, some of which could also be for shipment abroad. The Outlander Plug-in Hybrid is also being delayed until the second quarter of 2015 in the US. The electrified crossover has proven popular in other markets but has seen multiple postponements in going on sale here. In the meantime, there are a few new products coming down the line. The Mirage Sedan is eventually launching in the US, and the Lancer is reportedly getting a refresh soon. News Source: Automotive News - sub. req.Image Credit: Koji Sasahara / AP Photo Plants/Manufacturing Mitsubishi Sedan

Mitsubishi shows off MiEV Evolution III for Pikes Peak

In May 2012, Mistubishi unveiled a completely unexpected version of the i-MiEV electric jellybean to challenge the climb up Pikes Peak, the MiEV Evolution. In 2013, the company unleashed the MiEV Evolution II. For 2014, well, you can probably guess. Say hello to the MiEV Evolution III. The latest, ahem, evolution of these cars features redesigned chassis and bodywork as well as a 50 kW boost to the electric motors, up to 450 kW, which translates to a 67 horsepower increase up to 603 hp. Two of these bad boys will tackle the 2014 Pikes Peak International Hill Climb (PPIHC) later this month in the Electric Modified Division at the hands of drivers Greg Tracy and Hiroshi Masuoka. The race starts at 9,390 feet and ends at 14,110 feet above sea level and takes place June 29. Mitsubishi hasn't yet managed to win the EV category in. The first Evolution crashed during practice and last year Masuoka came in second in the EV division while Tracy came in third. The 2013 winner was Nobuhiro "Monster" Tajima in the Monster Sport E-Runner. Will the third time be the charm? Mitsubishi Motors to Compete in the 2014 Pikes Peak International Hill Climb for Third Consecutive Year Pair of advanced MiEV Evolution III all-electric racecars to compete Mon, Jun 02, 2014 - Cypress, California - Mitsubishi Motors North America, Inc. (MMNA) will compete in the Electric Modified Division of the prestigious 2014 Pikes Peak International Hill Climb (PPIHC) with a pair of technologically-advanced MiEV Evolution III 100% electric-powered purpose-built racecars in the 92nd running of the "Race to the Clouds" on June 29th near Colorado Springs, Colorado. First run in 1916, the annual Pikes Peak International Hill Climb is a treacherous 12.42-mile/156 corner road course through the Rocky Mountains in Colorado commencing at an elevation of 9,390 feet and finishing at 14,110 feet – nearly 3 miles above sea level. The Pikes Peak race is the second oldest motorsports event in the United States after the Indianapolis 500. "Pikes Peak is an excellent laboratory for testing our advanced MiEV (Mitsubishi innovative Electric Vehicle) technology," states Don Swearingen, executive vice president Mitsubishi Motors North America, Inc.