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Nissan files civil suit against Ghosn, seeking $91 million in damages

TOKYO — Nissan filed a civil suit Wednesday seeking 10 billion yen ($91 million) in damages from the Japanese automaker's former Chairman Carlos Ghosn. Nissan filed the case in Yokohama District Court to recoup some of the monetary damages suffered, it said, “as a result of years of misconduct and fraudulent activity" by Ghosn. The claim was calculated by adding the costs from what Nissan called Ghosn's “corrupt practices,” such as rent for overseas property, use of corporate jets and payments to Ghosn's sister, as well as costs for the internal investigation into Ghosn's alleged wrongdoings. Representatives of Ghosn said in a statement they couldn't comment as they had yet to see the legal documents. “Nissan's maneuvers continue,” they said, while noting Nissan had claimed larger damages before. Ghosn, who led Nissan for two decades and saved it from near-bankruptcy, was arrested in Japan in November 2018, and charged with underreporting his future compensation and breach of trust in diverting Nissan money for personal gain. He was awaiting trial but skipped bail and showed up in Lebanon late last year. Japan has no extradition treaty with Lebanon, and he's unlikely to be arrested. A date had not been set for his trial, and Ghosn has said he was worried his ordeal would never end and he would not get a fair hearing. The bail conditions also barred him from seeing his wife. He has repeatedly lashed out at Japan's judicial system, where the conviction rate is higher than 99%. Japanese authorities recently issued an arrest warrant for Ghosn and three Americans, accused of helping his escape. Separately, they issued an arrest warrant for Ghosn's wife on suspicion of perjury. Ghosn has repeatedly said he is innocent, saying that the promised compensation had never been decided, and all the payments were for legitimate services. Wednesday's lawsuit by Nissan comes on top of the civil case Nissan filed against Ghosn in the British Virgin Islands in August last year. It alleged unauthorized payments, sought to regain a luxury yacht and pursued other damages, according to Nissan. Yokohama-based Nissan, which makes the Z sportscar, Leaf electric car and Infiniti luxury models, is also facing trial in Japan as a company in relation to Ghosn's scandal. It has indicated it will agree to any penalties. Nissan's reputation has been sorely tarnished over the Ghosn fiasco, and its sales have dropped. Nissan reports financial results Thursday.

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

Nissan, Renault in talks to merge as one company

Nissan and Renault have been tied together as an alliance for nearly 20 years, but now the Japanese and French automakers are discussing whether to merge. Bloomberg, citing unidentified sources familiar with the confidential talks, reports that the idea is to form a larger, single publicly traded company to better compete against giants like Toyota and Volkswagen. It would also mark the end of the alliance that first began in 1999 and also includes Mitsubishi, in which Nissan acquired a controlling interest in 2016. A full merger would help the companies pool resources to develop electric vehicles, autonomous vehicles and car-sharing services. It would involve Nissan giving Renault shareholders stock in the new company, with Nissan shareholders also gaining shares in the new company, Bloomberg reports. The new company would be run by Carlos Ghosn, the current chairman of both companies. But any such merger, as you might expect, would be complicated, in part by geopolitics. The French government owns a 15-percent stake in Renault, and both the French and Japanese governments might be reluctant to let go of their respective home-grown brands. Currently, Renault owns a 43-percent stake in Nissan, while Nissan owns 15 percent of its French partner. Reuters reported recently that Ghosn proposed buying most of the French government's stake in Renault as part of plans for a closer tie-up. The Renault-Nissan-Mitsubishi alliance already has been working to establish a $200 million mobility tech fund to invest in startups, a reflection of how seismic changes in the auto industry have left many legacy companies scrambling to stay current. Nissan in 2016 paid a reported $2.3 billion to acquire 34 percent of Mitsubishi in order to share platforms, technology, manufacturing and other resources. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Patrick T. Fallon/Bloomberg Earnings/Financials Government/Legal Green Mitsubishi Nissan Renault car sharing merger