2007 Nissan Altima S Sedan 4-door 2.5l on 2040-cars

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Watch Carlos Ghosn's news conference live from Beirut

The former head of Nissan-Renault says he's speaking out to clear his name and shed light on an unjust system of Japanese justice. Timeline: The rise, fall and flight of Carlos Ghosn Follow our Adam Morath, who has been maintaining a running summary on Twitter:   This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Nissan Renault Carlos Ghosn

Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.

NHTSA opens investigation into 130k Nissan Versas for breaking springs

The National Highway Traffic Safety Administration has opened a preliminary evaluation into a suspension problem that could affect an estimated 130,000 Nissan Versas from 2008-2010. According to the government agency's documentation (here as a PDF), there have been 93 complaints of the front coil springs fracturing while driving in these vehicles. Based on reports so far, it appears to NHTSA that this problem can happen at any speed and without warning. When the spring breaks, the pieces can also puncture a tire or brake line. A preliminary evaluation sets out to investigate "the scope, frequency and safety-related consequence" of the potential problem. According to a portion of a statement from the automaker to Autoblog, "Nissan is cooperating fully to answer the agency's questions regarding this issue in a timely manner." INVESTIGATION Subject : Front Coil Spring Fracture Date Investigation Opened: MAY 13, 2015 Date Investigation Closed: Open NHTSA Action Number: PE15019 Component(s): SUSPENSION All Products Associated with this Investigation Vehicle Make Model Model Year(s) NISSAN VERSA 2008-2010 Details Manufacturer: Nissan North America, Inc. SUMMARY: The Office of Defects Investigation (ODI) has received 93 complaints (VOQs) alleging incidents of front suspension coil spring fracture in model year (MY) 2008 through 2010 Nissan Versa passenger cars. Preliminary analysis of the complaints indicates that the coil spring failures occur without warning and can happen at any speed. One complaint (VOQ #10663102) reported the passenger-side coil spring fractured while traveling at 65 mph and caused a sudden tire failure by cutting the inner sidewall 360 degrees. Another complaint ( VOQ #10680740) reported the passenger-side coil spring fractured while traveling 40 mph and result in tire puncture and brake line failure. ODI has also received EWR field report information relating to coil spring failures in the subject vehicles. A Preliminary Evaluation has been opened to assess the scope, frequency and safety-related consequence of the alleged defect.