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Toyota raises Japanese base wages for first time since 2008

Toyota is on track for record profits, and in return, its Japanese workers are receiving their first increase in base wages since 2008, plus higher pay based on seniority and a larger bonus for 2014. The Japanese automaker predicts the average laborer will net a 2.9 percent income gain.
The average Toyota employee will earn 2,700 yen ($26.28) more each month, a 0.8 percent increase from last year. Workers will also receive about 7,300 yen ($71.09) more monthly based on seniority and promotions. Finally, the company's union pushed through a median bonus of 2.44 million yen ($23,768) for 2014, the highest in 6 years.
The pay boost comes as Toyota forecasts a record 1.9-trillion yen ($18.5 billion) profit for the fiscal year ending on March 31, according to Bloomberg. It has been helped by the Japanese government's efforts to weaken the yen on international markets and expand inflation. Prime Minister Shinzo Abe has been asking businesses to increase compensation to end years of deflation and offset upcoming higher sales taxes. Honda and Nissan have also raised their wages there in recent months.

Recharge Wrap-up: Saleen renames its Tesla, Nissan announces "No Charge To Charge" in Atlanta

Saleen has renamed its Tesla Model S the Saleen ST and has added a version the P85D to its modified lineup. Formerly called the Saleen FourSixteen, referencing the car's 416 horsepower, the ST stands for "Saleen Tesla." While the ST receives no increase in output, modifications include aerodynamic, suspension and brake tuning, as well as some aggressive looks to go along with it. Customers can also opt for Saleen drive ratios, making the 691-horsepower, dual-motor version accelerate from 0-60 in less than three seconds. The Saleen ST380 starts at $132,000, with the ST691 starting at $164,600. Read more at Motor Authority or in the press release below. After one month of operation in Brooklyn, Car2go has over 13,000 members in its new locale. Users in what is now the carsharing service's fastest-growing market have already logged 55,000 miles for the Brooklyn fleet, with the average trip taking 22.45 minutes. The most popular destinations for Brooklyn users are The Barclays Center, Prospect Park and Williamsburg. Car2go has also announced its Mobile Access feature, which allows users to begin their trips with the mobile app as an alternative to using the member card. Read more in the press release below. Nissan has announced its "No Charge To Charge" program for Atlanta. That means customers who buy or lease a Nissan Leaf at Atlanta dealerships will receive free charging at more than 12 fast-charging stations in the Atlanta area. Nissan is extending the program to customers who got their Leaf beginning November 1, 2014. Nissan offers "No Charge To Charge" in 12 other markets, with at least 12 more planned for the US. Read more in the press release below. Tesla has named Ricardo Reyes as its communications chief. Reyes led Tesla's communications department until 2012, when he left the company to work from Square. Returning to Tesla, Reyes will oversee Tesla's online presence and public relations. After looking for someone like Reyes to fill the position, Tesla CEO Elon Musk eventually was able to bring the man himself back to the company. Read more at Businessweek. Saleen Expands Electric Performance Vehicle Lineup Saleen delivers the 1st Saleen Tesla model, and provides additional drivetrain options. Saleen Automotive Inc. (OTCQB: SLNN) Corona, CA – (November 20, 2014) Saleen Automotive has begun deliveries of the Model S based Saleen FOURSIXTEEN, which comes only a short time after the successful new product launch in Pebble Beach, CA.

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan