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Nissan To Buy Mitsubishi For $2.2B | Autoblog Minute

Nissan confirmed this week that it would take a controlling interest in troubled Japanese automaker Mitsubishi. Nissan will buy 34% of Mitsubishi for $2.2B. Mitsubishi Nissan Autoblog Minute Videos Original Video

Renault to Nissan: Stop trying to contact our board members

TOKYO/PARIS — Renault told alliance partner Nissan to stop contacting the French company's directors ahead of a Thursday board meeting as the Japanese automaker tried to share evidence of wrongdoing by its ousted chairman, Carlos Ghosn, two sources said. Ever since Ghosn's Nov. 19 arrest in Japan, Renault and the French government, the automaker's biggest shareholder, have demanded to see the findings of a Nissan internal investigation that include allegations of financial misconduct by the 64-year-old executive. Ghosn was charged on Monday in Japan for failing to declare deferred income he had agreed to receive for the five years ending March 2015. While Nissan fired him as chairman days after his arrest, he remains chairman and CEO of its French partner. Renault's board meets on Dec. 13, and the findings of Nissan's investigation will be shared at the meeting where Ghosn's future could be also debated, one of the sources with knowledge of the matter said. The French firm told Nissan not to contact its directors ahead of the meeting, because such contact was outside the agreed channels for communication of the sensitive findings, the source said. Nissan offered last week to brief Renault's board about findings on what it considers proof of wrongdoing by Ghosn, said a second source who has knowledge of the matter but declined to be identified as it was confidential. But Renault advised Nissan to brief its lawyers instead, which led to a meeting between the Japanese firm's officials and Renault's legal teams early this week in Paris, the person said. The Japanese automaker later invited Thierry Bollore, who was named Renault's deputy CEO with the same powers as Ghosn a day after his arrest, as well as board members, to examine the contents of the findings, said the source. Bollore, though, told Nissan on Tuesday to "refrain from contacting the board," the source said. The exchange between Renault and Nissan is another example of the testy relationship between the two automakers, despite assurances by executives on both sides to preserve the alliance. The alliance, of which Ghosn has been the driving force, is widely seen as vital for the members' long-term survival. Board members invited to see the evidence included Martin Vial, who heads the French state shareholdings agency, interim Chairman Philippe Lagayette and independent director Patrick Thomas, the second source said. A Renault spokesperson declined to comment.

Nissan unveils Altima-based V8 Supercars [w/videos]

Good as it is, when we think about the Nissan Altima, the words "V8" or "supercar" are not in our vernacular, but Nissan Motorsports is looking to change all that. After unveiling the race version of its Altima sedan intended for the Australian V8 Supercars series back in October, the four race teams and their cars were revealed yesterday ahead of a preseason test session this weekend.
Two of the Altima racecars will be sponsored by Jack Daniels while the other two will wear Norton (as in Norton Anti-Virus) black-and-yellow livery. The season officially kicks off on March 1, and we'll get to see the V8-powered Altima on US soil from May 17-19 when the V8 Supercars series hits the new Circuit of the Americas in Austin. Scroll down to watch a couple videos and a press release issued for the team introductions.