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Nissan officials answer to angry shareholders on red ink, Ghosn scandal

Smoke engulfs the Nissan logo as workers burn tires during a protest in Barcelona, Spain, where the automaker is closing its plant, costing 3,000 direct jobs. (AP/Emilio Morenatti)     TOKYO — Nissan Chief Executive Makoto Uchida told shareholders Monday he is giving up half his pay after the Japanese automaker sank into the red amid plunging sales and plant closures in Spain and Indonesia. Uchida apologized for the poor results and promised a recovery by 2023, driven by cost cuts and new models showcasing electric-car and automated-driving technology. “We will tackle these challenges without compromise,” he said at a live-streamed meeting. “I promise to bring Nissan back on a growth track.” Executives for the company also blasted suggestions in media reports of a conspiracy within the company to oust Carlos Ghosn. The former chairman's 2018 arrest in Japan on financial misconduct charges has led to much speculation that the move was orchestrated by Nissan executives who opposed closer ties with partner Renault. “I know that in books and the media there has been talk about a conspiracy, but there are no facts whatsoever to support this,” Motoo Nagai, chairman of NissanÂ’s auditing committee, told shareholders at the companyÂ’s annual general meeting. Responding to demands from a shareholder to address the speculation, Nagai argued that the investigation into Ghosn was conducted both internally and by outside law firms. All the worldÂ’s automakers have been hurt by nose-diving sales caused by the coronavirus pandemic. But the problems are especially serious for Nissan, which already was fighting to salvage its reputation after the financial misconduct scandal of former star executive Ghosn. Nissan, based in Yokohama, Japan, sank into its first annual loss in 11 years, reporting a 671.2 billion yen ($6.3 billion) loss for the fiscal year that ended in March. It has not given a projection for this fiscal year, citing uncertainties over the virus outbreak. One angry shareholder got up and said executives should give up more of their pay since investors were getting zero dividends. Another said Nissan needed to do more to strengthen its governance, arguing things have been getting worse, not better, since the departure of Ghosn.

This is what happens when you drive your Nissan Leaf beyond empty

If you see an AAA truck bringing someone a can of extra gas, it's rarely a big deal, but when an EV driver runs out of charge, people pay attention. Whether its a writer for The New York Times or hardcore Tesla fans, people are curious about this newfangled technology and the things that could go wrong. "I don't know what the opposite of range anxiety is. Range annoyance?" – Robert Llewellyn Well, few people have more fun with their EV than Robert Llewellyn, the actor (best known for Red Dwarf) and star of his own pro-EV show Fully Charged. And he's good at educating people on the EVs as well. In the latest episode, he tries something in his first-gen Leaf that he's never done before: drive until the battery is completely empty. When the car just keeps on going well beyond the official range estimate, Llewellyn gets frustrated. "I don't know what the opposite of range anxiety is," he says. "Range annoyance?" After 91 miles, he finally comes to a stop. Watch the video below. In the end, all Llewellyn needed to do to get up and running again was to get towed home and plug in. A few hours later, he was ready to go, this time with his range estimate at 93 miles. Compare that with the dangers to your gas engine if you run out of gas and you might wonder why so many people worry about an EVs range. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Recharge Wrap-up: Chevy teases Bolt driving range, China pursues EV subsidy cheaters

Chevy is teasing the Bolt's driving range, which it is set to reveal on Tuesday. It will certainly be able to travel more than 200 miles between charges, but the second and third digits in that value, as it stands today, are still question marks. On its Facebook page, Chevrolet is asking fans to try to guess the official range. Of course, Tesla fans have already started posting their own snide remarks in the comments. Chevy fans are certainly hoping to see the Bolt's range eclipse that of Tesla's upcoming Model 3, which the California-based automaker puts at 215 miles. See Chevy's post on Facebook to make your own guess, or check back there (or here at AutoblogGreen) for the official number once it is unveiled. Fuel cell company PowerCell Sweden says it has signed an agreement with a Chinese company to make range extenders for commercial trucks. The unnamed Chinese customer has placed an order and signed a memorandum of understanding with PowerCell Sweden, and the partners will develop methanol reformer fuel cell range extenders for electric distribution trucks. "Our unique expertise in fuel cells and reformer technology is receiving an increasing attention worldwide and we are truly pleased to get another Chinese order," says PowerCell Sweden Sales Director Andreas Boden. Read more at Green Car Congress, or from PowerCell. China is accusing major automakers of violating EV subsidy rules. After the country's Ministry of Finance penalized five companies with fines and, in one case, revocation of production license for subsidy cheats, China has since named 20 more potential violators, including Nissan, Hyundai, JAC, and a subsidiary of BYD. Of the first five companies to be punished under the investigation, Suzhou Gemsea Coach Manufacturing is having its production license revoked, while four others, including a subsidiary of Chery, are being fined for about half of the subsidies received. The scandal is bad new for China's subsidy program, which has helped spur sales of plug-in vehicles. Read more from Fortune, or at Hybrid Cars.