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Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.

Renault taking Alpine endurance racing, enters 24 Hours of Le Mans

Renault isn't letting up with the return of its Alpine brand. After announcing a partnership with Caterham to bring a new Alpine to market by 2015 (now expected by 2016), the French firm has announced it is taking Alpine racing again in the European Le Mans Series this year - and that includes The 24 Hours of Le Mans.
It has been 35 years since Alpine last competed in Le Mans, when it won the race outright and dropped the mic as it left the pits, never to return. Before that, in the 11 years it campaigned in the most famous endurance race on the planet from 1963 to 1978, it took seven class wins.
Caterham won't be involved with the race team, however; that will be an effort spearheaded by the Signatech-Nissan team that has been running GT Academy winners in LMS racing. Alpine is preparing an LMP2 chassis that will get a 500-horsepower Nissan engine for this year's championship, with the first two named drivers being Nelson Panciatici (above right) and Pierre Ragues (above left). The third driver for Le Mans will be announced later this month when the racer is launched at the Le Castellet race track in southern France.

Chinese Nissan Leaf goes on sale in September as Venucia e30

The upcoming Chinese version of the Nissan Leaf, the Venucia e30, was not the highlight of the Dongfeng Nissan stand at this year's Beijing Motor Show. That honor goes to the R30, a compact car with "segment-competitive fuel economy" and a starting price of under RMB 50,000 ($8,033 US). But that doesn't mean Dongfeng didn't make some news about the debut of the world's most popular electric vehicle in the world's most populous country. Dongfeng Nissan will start selling the e30 in the Chinese retail market this September. In a world where EV promises are not always worth the paper they're printed on, it's nice to see this target date is actually ahead of schedule. The sales launch follows EV pilot programs that saw 300 of the EVs rack up a total of one million kilometers (621,000 miles) in Guangzhou, Xiangyang and Dalian since December 2013. The e30 might just be the first or many EVs, since Donfeng-Nissan showed off the Viwa Concept EV last year. There are a few more details in the press release below. Dongfeng Nissan Unveils VENUCIA R30 at Auto China 2014 BEIJING, April 20, 2014 /PRNewswire/ -- Dongfeng Nissan Passenger Vehicle Company ("Dongfeng Nissan"), the passenger vehicle business unit of Nissan's joint venture in China, today unveiled R30 at Auto China 2014. R30 is the 4th production model for the company's new VENUCIA brand. The compact R30 delivers segment-competitive fuel economy with the strongest engine in class through a 1.2-liter gasoline engine, features a spacious interior, and offers easy handling for drivers to provide a high quality yet competitively priced car to Chinese consumers. The price of the main grade will be less than RMB 50,000. "Very competitively priced, R30 is the perfect entry car for Chinese consumers," said Ren Yong, Deputy Managing Director of Dongfeng Nissan. "I believe many Chinese consumers will choose R30 as their first car in the continuing motorization of China." Bookings for R30 will start within the next two months. Dongfeng Nissan also announced that e30, Venucia's electric vehicle, will be sold in the retail market starting in September. The company has already commenced EV pilot programs in the cities of Guangzhou, Xiangyang and Dalian, with a total of 300 e30s recording a total mileage of one million km since the programs started in December 2013. Venucia recorded sales of more than 100,000 units in 2013 and is targeting a 50 percent increase in sales this year.