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Nissan expands Ghosn probe to more countries, executive Munoz under scrutiny, sources say

BEIJING — Nissan Motor Co Ltd has broadened its investigation into ousted chairman Carlos Ghosn to include dealings that took place in the United States, India and Latin America, three people with knowledge of the inquiry said. In one aspect of their internal probe, company investigators are looking into decisions made in the United States by Jose Munoz who led Nissan's North American operations from 2014 to 2018, the people said. Munoz was recently placed on a leave of absence due to the probe, they added. Nissan said this month that Munoz, its chief performance officer and widely seen within the industry as close to Ghosn, was on leave "to allow him to assist the company by concentrating on special tasks arising from recent events." Munoz is not cooperating with investigators, two of the people with knowledge of the probe said, both describing his actions as "stonewalling". One of the sources described Munoz, who currently heads Nissan's China operations, as a "person of interest" in the probe, adding that it was not clear whether he would be accused of any wrongdoing. Munoz, 53, did not reply to Reuters requests for comment. The people with knowledge of the probe spoke to Reuters on condition of anonymity due to the sensitivity of the matter. A lawyer for Ghosn, Motonari Otsuru, said in an emailed comment: "I am unaware of this." Some of the questions put to Munoz relate to dealer franchise rights, one of the sources said. Other questions relate to contracts with parts suppliers and service providers that Munoz approved when he was at the helm of Nissan's U.S. operations, another source said. The sources said the findings made as part of the probe into Ghosn's affairs in the U.S. market are being shared with prosecutors. Tokyo prosecutors declined to comment. Nissan has said its internal investigation had uncovered "substantial and convincing evidence of misconduct" by Ghosn and that its scope is expanding. Ghosn, once the most celebrated executives in the auto industry and the anchor of Nissan's alliance with France's Renault SA, has been charged with under-reporting his income. On Friday, he was also charged with aggravated breach of trust, accused of shifting personal investment losses worth 1.85 billion yen ($17 million) to Nissan. In his first public appearance since his Nov.

Recharge Wrap-up: Aoxin Ibis could be Tesla competitor in China, Nissan Qashqai ZEOD due this year

Zero Motorcycles is expanding its North American dealer network. With more retailers selling the electric motorcycles, Zero has added three new regional sales directors. "We are enjoying a great response to our 2015 line of motorcycles and accessories, and it's driving accelerated growth," says Zero's Mike Cunningham. "To support and sustain this momentum, we are investing in a bigger, stronger team and partnering with leading motorcycle retailers." More sellers are getting on board as electric motorcycles appear more and more viable, and they're finding it's bringing in a new set of enthusiastic customers. Zero recently revamped its production process to meet the expected increase in demand for 2015. Read more in the press release, below. Chinese automaker Aoxin New Energy, has built an electric car that is set to compete with the Tesla Model S. The aluminum and carbon fiber Aaoxin Ibis (pictured) is longer than the Model S, but weighs less than the Tesla at 4,034 pounds. It offers 181 horsepower and has a top speed of only 94 miles per hour, but it boasts a driving range of about 285 miles per charge. Its upscale interior borrows its looks from the Tesla, with its digital gauges and large, central touchscreen. Read more at Car News China, or at Green Car Reports. Nissan will likely debut a Qashqai ZEOD concept later this year. The plug-in hybrid version of the compact crossover borrows its ZEOD moniker - which stands for Zero Emissions On Demand - from Nissan's hybrid Le Mans racer. It's possible it will borrow its powertrain technology from the Renault Eolab Concept, which could mean a 1.0-liter engine paired with an electric motor. Based on the success of the Qashqai in Europe, it's not unlikely that the plug-in version will debut there (Green Car Reports is betting on Frankfurt). Read more at Green Car Reports. Zero Motorcycles Expands North American Network Strong Demand Fuels Double-Digit Dealer Growth and Additions to Sales Team SANTA CRUZ, Calif., March 11, 2015 /PRNewswire/ -- Zero Motorcycles, the global leader in the electric motorcycle industry, announced today that three new regional sales directors have been added to the company's roster in the first quarter of 2015. The expansion of the sales team comes in response to rapid growth within the dealer network and reflects Zero's commitment to delivering world-class products and service.

Nissan reports $4.13B net income for 2012

The news for Nissan is good when it comes to the company's results for the 2012 financial year that ended on March 31. Even though the numbers were down in many of the world's major markets, increased sales in the US, Brazil and the Middle East, ten new models and a strong fourth quarter allowed Nissan to hit its target for the year and notch record sales of 4.914 million units globally. On net revenue of $116 billion, Nissan posted net income of $4.13 billion and an operating profit of $6.31 billion.
There are upward-looking projections for this year, Nissan forecasting a 7.8-percent jump in sales to 5.3 million units, with $117.89 billion in net revenue and $4.42 billion in net income. That net revenue number probably won't actually match what's reported next year, though, because Nissan is changing its accounting method and won't include revenue and operating profit results from its joint venture with China's Dongfeng. Net income doesn't change under the new method, but the adjusted net revenue forecast is $109.16 billion.
There's a press release and two videos below with more details for those of you who go gaga for annual reports.