Evolution Awd Manual Trans Low Miles Lancer Alloy Wheels Turbo on 2040-cars

Auto blog

How a powerful Nissan insider brought down Carlos Ghosn

Hari Nada   We may never truly know all the corporate skullduggery that went on at Nissan to get former boss Carlos Ghosn arrested and incarcerated in Japan, a country he ultimately fled in a box in what may be the greatest escape caper in corporate history. Nor may we ever truly know which accusations against Ghosn are or are not true. But Bloomberg News thinks it has a pretty good fix on the mastermind of the putsch, a Nissan senior vice president named Hari Nada. Nada, Bloomberg says, is "an insider known for his aggressive tactics and fondness for Marlboros, French cuff shirts and strong cologne." In a 4,600-word investigative piece, Bloomberg dials in on Nada, 56, as having directed other senior executives in a plot to bring down Ghosn, starting a year before his arrest in Tokyo. "The aftermath has been messy," Bloomberg puts it mildly, with Nissan losing billions of dollars, its management in disarray, and the alliance with Renault and Mitsubishi strained to the limits. The fortunes of the three automakers were sent reeling, with the coronavirus pandemic piling on. For his part, Ghosn is living in Lebanon as an international fugitive. Nada's role was basically as chief of staff to Ghosn, a position from which he could see that the chairman intended to strengthen the alliance, bringing the players together in one holding company. Nissan executives have long resisted closer ties and chafed at the company's junior-partner relationship with Renault, though ironically Ghosn's plan would have brought Nissan more of the parity it has always craved. Ghosn also wanted to expand, possibly by a merger with Fiat Chrysler Automobiles.  Among Bloomberg's new discoveries: Nada arranged to have Ghosn's corporate email hacked, unbeknownst to key IT personnel or Nissan's CEO. This began months before Nada began working with prosecutors in a secret deal that afforded him immunity. Jose Munoz, a former Nissan exec and ally of Ghosn's, feared arrest — and refused to Tokyo when summoned — after being tipped off by the U.S. and Spanish ambassadors to Japan. Munoz is now chief operating officer at Hyundai. Top Nissan corporate counsel Ravinder Passi says he was retaliated against after raising complaints against Nada to Nissan's board. He says Nissan initiated a police raid of his home, which Bloomberg has on video. Nada purged other executives deemed rivals or disloyal and apparently became quite unpopular.

Mitsubishi Outlander PHEV gets major powertrain updates, Geneva reveal

Mitsubishi will put seven of its wares on display during press days at the Geneva Motor Show, the headliner being an updated 2019 Outlander PHEV. Engineers have upgraded the entire hybrid powertrain, starting with the switch from a 2.0-liter Otto cycle gas engine to a 2.4-liter Atkinson cycle gas engine. Mitsubishi hasn't revealed output numbers, but the carmaker promises "higher torque, smoother operation, and overall higher efficiency." Generator output, rear motor output, and lithium-ion drive battery output all go up by 10 percent, and battery capacity gets a 15 percent boost. Going off the specs on the Mitsubishi Cars site, that would take the rear motor up to 66 kWh and the battery capacity from 12 kWh to 13.8 kWh. Along with the extra battery output, the 2019 Outlander PHEV should be expected to switch into EV mode more often, and stay there longer. Two drive modes join the current programming, Sport and Snow sidling up with Normal and 4WD Lock. One must look closely to note the exterior revisions, almost all of which are up front: a new graphic on the front grille, new LED headlights, rectangular foglight bezels, and a more prominent front skid plate. A "more elaborate" two-tone, 18-inch wheel shakes things up along the flanks, a larger rear spoiler holds things down out back. We probably won't get a look at the interior until Geneva, but "new quilted fine leather upholstery, all-new hip-hugging front seats, revised switchgear, a new instrument panel, new trimming, rear A/C outlets, and more" await us. The new Outlander PHEV gets to Europe in late 2018, likely greeted with the same fever that's seen the SUV move 100,000 units there in three years. Related Video:

Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.