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Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Carlos Ghosn brings Nissan Leaf EV to happy nation of Bhutan

The Nissan Leaf has been declared the cleanest car in the US, and it's going to have a good case to claim the same title in Bhutan. Yes, Bhutan, the country famous for measuring Gross National Happiness is about to get serious about the EV Grin. Last December, we learned that Bhutan's capital city, Thimphu, wanted to build up a Leaf taxi fleet. That's when Renault-Nissan CEO Carlos Ghosn went to Bhutan to talk about the project and he has recently returned to deliver some vehicles to the Prime Minister of Bhutan, Tshering Tobgay, who has been advocating for EVs since taking office in July and has set a preliminary target of 2,000 EVs on the streets of Thimphu. Tobgay said his country, "will commit to a program to achieve zero emissions as a nation by a certain target date." It's not an outrageous goal for the Himalayan country, since it generates a lot of hydro-electric power, way more than it can use. There are only around 750,000 citizens of Bhutan and they only use five percent of the clean power made within its borders. Most of the rest goes to neighbor India. The problem, as expressed in Nissan's press release (available below), is that Bhutan takes "almost all of the revenue earned from selling electricity" to buy fossil fuel from India and power its national vehicle fleet. You can probably see how making the switch to EVs can simplify and clean things all around. There's a video of Ghosn's Bhutan trip below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Nissan Partners with Bhutan on National EV Strategy Feb. 21 – Thimphu, Bhutan – An electric revolution has begun in Bhutan. The remote Himalayan country, renowned for championing "Gross National Happiness," has taken first steps towards becoming a leading global electric-vehicle nation. Prime Ministers of Bhutan, Tshering Tobgay and Nissan CEO, Carlos Ghosn Prime Minister Tshering Tobgay and Nissan CEO Carlos Ghosn announced a partnership in Thimphu Friday, which will see both parties work toward achieving Bhutan's ambitious clean-energy goals. "We will develop a program, we will commit to a program to achieve zero emissions as a nation by a certain target date," said Tobgay who has backed the EV project since taking office in July last year.

Nissan introduces new Lannia sedan in China [w/videos]

Take a good look at the vehicle you see here, because you may never see it again. That's because it was designed specifically for the Chinese market and is not likely to ever be exported far beyond its borders. It's called the Nissan Lannia, and it's the production version of the Friend-Me concept showcased two years ago in Shanghai and the Lannia concept unveiled in Beijing last year. It's a sedan targeted specifically at trendsetting Chinese buyers in their 20s and 30s, designed and developed locally by Nissan Design China and unveiled at the Shanghai Motor Show. The styling bears many hallmarks of the Japanese automaker's latest design language, particularly up front with its V-shaped grille treatment and sharply shaped headlights. The C-pillar looks signature Nissan as well, but leads to what looks like rather ungainly rear proportions somewhat disguised by dynamic styling elements. Details remain few and far between, but you can bet it packs a small engine driving the front wheels through a continuously variable transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Introducing the All-New Nissan Lannia April 20 – Shanghai – Nissan unveiled the all-new Lannia at Auto Shanghai 2015 on Monday, a culmination of vision taking the car from concept to reality. Two years ago in Shanghai, Nissan introduced the Friend-Me Concept, followed by the Lannia Concept in 2014 at the Beijing Motor Show, and Lannia is the tangible expression of the company's commitment to China. Building on Nissan's longstanding success in the sedan market, it's the first product developed and designed for young Chinese generations, especially those in their 20s and 30s, seen as the nation's trendsetters. "Edging forward is not enough. The market in China is moving very fast, especially with the post-1980s generation," says Titus Liu, Creative Design Manager at Nissan Design China. "They do not want to stick with the status quo, so we are dedicated to finding the next great breakthrough. This is important for us." Design and development was led by Nissan Design China, backed by the Nissan Global Design Center. Lannia's styling speaks to rising Chinese who want to set themselves apart as both edgy and sophisticated, resulting in a stylish new look for a sedan that goes against conventions.