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Renault, Nissan attempt to calm rumors of impending split

TOKYO/PARIS — Shares in Renault recovered some lost ground on Tuesday after the French carmaker and its Japanese partner Nissan rejected media reports that their alliance was in danger of being dissolved. Some have openly questioned whether the alliance can survive without disgraced former CEO Carlos Ghosn to keep the two partners happy.  Renault shares fell to a six-year low on Monday after rumors circulated that its alliance with Nissan was in jeopardy. Nissan shares tumbled to their lowest in 8 1/2 years on Tuesday in Tokyo. At the opening of trading in Paris on Tuesday, Renault shares rose 1.3 percent, before falling back slightly to trade up 0.49 percent by 08:23 GMT. The alliance, which also includes Japan's Mitsubishi Motors, is "solid, robust, everything but dead," the chairman of Renault, Jean-Philippe Senard, told Belgian newspaper L'Echo. A split between the two automotive giants would force both to find new partners in a fast-consolidating industry that is growing increasingly difficult to navigate for independent companies. It will be especially difficult for Renault and Nissan, whose dirty laundry Ghosn intends to air for public consideration.   French Finance Minister Bruno Le Maire also weighed in, saying reports some executives wanted to break up the alliance were "malicious." Speaking to France's CNews TV, he also said he expected Renault to name a new chief executive within days to replace Thierry Bollore, a Ghosn-era appointee who was ousted in October. Luca de Meo, who stepped down as the head of Volkswagen's Seat brand last week, is seen as a frontrunner for the job, although a stringent non-compete clause in his contract firm may prove a hurdle, sources have told Reuters. Nissan, in response to "speculative international media reports," said it was "in no way considering dissolving the alliance." "The alliance is the source of Nissan's competitiveness," the Japanese automaker said in a statement. "Through the alliance, to achieve sustainable and profitable growth, Nissan will look to continue delivering win-win results for all member companies." Concerns emerged about the future of the Renault-Nissan partnership after the November 2018 arrest in Japan of Ghosn, the man who did more than anyone else to hold together the disparate alliance of often-contrasting carmaking cultures.

Lebanon gets Interpol fugitive notice for Carlos Ghosn as escape details emerge

BEIRUT — Lebanon's justice minister said Thursday that Lebanon has received an international wanted notice from Interpol for NissanÂ’s ex-chair Carlos Ghosn, four days after he fled Japan to Lebanon before a trial on financial misconduct charges. Albert Serhan told The Associated Press in an interview that the Red Notice for the former automotive titan was received earlier Thursday by the prosecution. Ghosn skipped bail before his much-anticipated trial, which was to start in April. He arrived in Lebanon, where he was raised after moving from Brazil as a young boy, on Monday via Turkey and hasn't been seen in public since. Authorities have said that he entered legally on a French passport. A plane carrying Ghosn arrived at 5:30 a.m. (0230 GMT) Monday at IstanbulÂ’s Ataturk Airport, Hurriyet reported, adding that prosecutors ordered the arrests after widening their investigation. Flight tracking data from that time suggests that Ghosn used two different planes to fly into Istanbul and then on to Lebanon. Japanese authorities allowed Ghosn to carry a spare French passport in a locked case while out on bail, public broadcaster NHK said on Thursday, shedding some light on how he managed his escape to Lebanon. While some Lebanese media have floated a Houdini-like account of Ghosn being packed in a wooden container for musical instruments after a private concert in his home, his wife called the account “fiction” when contacted by Reuters. She declined to provide details of the exit of one of the most recognized titans of industry. The accounts of the two sources suggest a carefully planned escape known only to a few. They said a private security firm oversaw the plan, which involved shuttling Ghosn out via a private jet to Istanbul before pushing onward to Beirut, with even the pilot unaware of GhosnÂ’s presence on board. InterpolÂ’s so-called Red Notices are requests to law enforcement agencies worldwide that they locate and provisionally arrest a wanted fugitive. Serhan, the minister, said the Lebanese prosecution “will carry out its duties,” suggesting for the first time that Ghosn may be brought in for questioning. But he said that Lebanon and Japan do not have an extradition treaty, ruling out the possibility that Beirut would hand Ghosn over to Japan One sources who spoke with Reuters said Ghosn was greeted warmly by President Michel Aoun on Monday after flying into Beirut via Istanbul and was now in a buoyant and combative mood and felt secure.

Mitsubishi admits to tampering with fuel economy data

Mitsubishi admitted this week to intentionally rigging fuel-economy testing in four of its models sold in Asia. The affected models are all so-called Kei class cars with sub-660cc engines manufactured at Mitsubishi's Mizushima plant in Okayama, Japan. About 157,000 of those cars are Mitsubishi eK wagons and eK Space models, and 468,000 are re-badged Nissan Dayz and Dayz Roox cars, which Mitsubishi produces for Nissan. The matter came to light after Nissan found inconsistencies in reported mileage data, which then led to Mitsubishi launching an internal investigation. The fraud was discovered to be related to falsified tire pressure data, which has an effect on mileage results – an important matter considering these kinds of vehicles are marketed by fuel economy. Mitsubishi said it has stopped manufacturing and marketing the affected vehicles. The news caused Mitsubishi's stock to plummet over 15 percent, slicing $1.2 billion off the company's value. When the eK models hit the market three years ago, they were decorated with a Good Design Award by the Japanese Ministry of Economy – a merit that is now surely tarnished. While Mitsubishi has been suffering in the US recently, with news of the Normal, Illinois plant closing, its small Mirage model has sold well. Related Video: Image Credit: Getty Images Green Plants/Manufacturing Mitsubishi Nissan Fuel Efficiency Hatchback Minivan/Van kei cars minicars