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Carlos Ghosn vows to 'restore my honor' in first remarks since arrest

TOKYO — Nissan Motor's jailed ex-chairman, Carlos Ghosn, vowed to restore his good name in court after a month in detention, Japanese public broadcaster NHK said on Friday. "Things as they stand are absolutely unacceptable," Ghosn was quoted as saying via his lawyer. "I want to have my position heard and restore my honor in court." It was Ghosn's first comment since his arrest on Nov 19 for allegedly understating his income by about half over a five-year period from 2010. He was later charged with the same alleged crime covering the past three years. A call to the office of his lawyer, Motonari Otsuru, went unanswered outside business hours early on Friday. The lawyer has previously declined to return calls for comment on the Ghosn case. A Tokyo court on Thursday unexpectedly rejected prosecutors' request to extend Ghosn's detention, which Japanese media said means he could go free on bail as early as Friday. Ghosn wants to hold a news conference after he is released, NHK quoted his lawyer as saying. The executive, who formed a carmaking alliance among Nissan, Mitsubishi Motors Corp and France's Renault SA, said he is not a flight risk and wants to be able to travel abroad, the report said. The Ghosn case has put Japan's criminal justice system under international scrutiny and sparked criticism for some of its practices, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations, which can last eight hours a day. Japan has also come under fire for its 99.9 percent conviction rate. The Tokyo court unexpectedly ruled not to extend Ghosn's detention. It said it had also decided against extending detention for Greg Kelly, a former Nissan executive who was arrested along with Ghosn on Nov. 19. It later overruled an appeal by prosecutors against the decision, clearing the way for the possible release of the two men as early as Friday. The court did not disclose reasons for its decision, and NHK said it was "extremely rare" for it to reject the prosecutors' request to extend detention. If Ghosn and Kelly are granted bail, conditions may require them to apply for permission to travel overseas. They could also be barred from contacting Nissan officials. Both executives had not been able to make any public statements since their arrest, although local media have reported that they have denied wrongdoing. Ghosn was indicted on Dec.

You'll soon be able to buy an EV in China for just $8,000 after incentives

Renault is eventually looking to sell an electric vehicle in China that will cost as little as $8,000 after government incentives kick in. According to Reuters, Renault-Nissan chief Carlos Ghosn offered the prediction at the New York Times Energy for Tomorrow conference in Paris this week. Granted, China government incentives are approaching $20,000 per vehicle, as China looks to address its cities' notorious pollution problem, so there's some wiggle room with that price. And of course, the devil is in the details, and Ghosn didn't provide any. Still, such a low-priced EV would likely challenge the dominance of China-based EV makers BYD and Kandi. And the effort would likely be lucrative, given that it has been predicted that China will become the world's largest EV market by the end of the decade. In fact, the publication EV Sales said earlier this year that as many as 300,000 EVs will be sold in China in 2016 (by comparison, Americans bought about 100,000 EVs and plug-in hybrids combined through the first 10 months of the year). BYD is expected to sell 75,000 Tang SUV units this year. With such growth expectations in mind, automakers are focusing on China for potential EV development. Earlier this year, Volkswagen Group said it signed a memorandum of understanding with China's Jianghuai Automobile (JAC) for plug-in vehicle production. Mercedes-Benz parent Daimler also stated its goal to broaden plug-in vehicle sales in China. Renault appears to be trying to make an early mark in China. Dongfeng Renault Automobile Co., the Chinese joint venture between Renault and Donfeng, is looking to start testing a self-driving electric vehicle this month. Dongfeng Renault will use a 1.5-mile stretch of road in Beijing's Caidian district for testing purposes. Related Video:

What to expect from the Japanese trial of Nissan and Greg Kelly

TOKYO — The criminal trial against Japanese automaker Nissan and its former executive Greg Kelly will open in Tokyo District Court on Tuesday. ItÂ’s the latest chapter in the unfolding scandal of Carlos Ghosn, a superstar at Nissan until he and Kelly were arrested in late 2018. Five questions and answers about the trial: Q: WHAT ARE THE ALLEGATIONS? A: The charges center around KellyÂ’s role in alleged under-reporting of GhosnÂ’s future compensation by about 9 billion yen ($85 million), a violation of financial laws. Kelly says he is innocent. Nissan, which is also similarly charged, has already acknowledged guilt, made corrections to the compensation documents submitted to the authorities, and has started paying a 2.4 billion yen ($22.6 million) fine. Q: WHAT HAPPENS TO GHOSN? A: Probably nothing. He skipped bail late last year and is now in Lebanon, which has no extradition treaty with Japan. Two Americans, Michael Taylor and his son Peter Taylor are being held in Massachusetts without bail, suspected of having helped Ghosn escape by hiding in a box on a private jet. A U.S. judge recently approved their extradition to Japan. The case is now before the U.S. State Department. Q: HOW DO CRIMINAL TRIALS PROCEED IN JAPAN? A: The trial, before a panel of three judges, is expected to take about a year. There is no jury. Juries are selected only for extremely serious cases in Japan, such as murder. In principle, there are no plea bargains although backroom deals are made all the time. Closed pre-trial sessions are held ahead of the trialÂ’s opening, often for months before the real trial begins. Japan's legal system has come under fire from both within and outside the country as “hostage justice” because suspects often are held for months and interrogated without a lawyer present, often leading to false confessions, according to critics. Q: WHAT ARE KELLYÂ’S CHANCES? A: More than 99% of criminal trials in Japan result in a conviction. Japanese Justice Minister Masako Mori, in an online presentation in English hosted by the Japanese Embassy in the U.S., argued the conviction rate is so high because Japan prosecutes only about a third of the cases that come up, choosing only those that “result in guilty verdicts.” She insisted there is a “presumption of innocence.” She declined comment on KellyÂ’s case.