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Nissan CEO Hiroto Saikawa resigns, successor to be named

YOKOHAMA, Japan — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Board member Yasushi Kimura told reporters at an evening news conference at company headquarters in Yokohama that the board has approved Saikawa's resignation, effective Sept. 16, and a successor will be appointed next month. A search is underway, he added. Calls for Saikawa's resignation, which arose after the arrest last year of his predecessor, Carlos Ghosn, on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments. The income was linked to the stock price of Nissan Motor Co., and he has said his pay got inflated by illicitly adjusting the date for cashing in. The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company. Kimura said the income Saikawa had received was confirmed as "not illegal." Ghosn, who is out on bail and awaiting trial, says he's innocent. Kimura and three other board members, who all have backgrounds outside the company, said their investigation of the scandal over Ghosn's arrest found that alleged misconduct by Ghosn and Greg Kelly, a former board member who was also arrested, had caused 35 billion yen ($350 million) in damage to the company. Nissan will seek a repayment of the damages, Kimura said. The board said about 10 candidates are being considered as a replacement for Saikawa. They did not identify them, but said outsiders and non-Japanese are on the list. Until a successor is decided, Chief Operating Officer Yasuhiro Yamauchi will serve as interim chief, the board said. Saikawa has not been charged. "I have been trying to do what needs to be done so that I can pass the baton over as soon as possible," he told reporters earlier in the day, referring to his willingness to leave his job. Saikawa did not appear at the news conference initially, but the four board members who led the event said he would later. Saikawa has said he didn't know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments. Japanese media reports said Saikawa had received tens of millions of yen (hundreds of thousands of dollars) in extra compensation.

Infiniti extends long-wheelbase Q50 L for the Chinese market

Want to sell your luxury sedan in China? You're going to need a long-wheelbase model. Not because the still-dominant Chinese government mandates it, or because the customers are taller, but because Chinese buyers tend to like being chauffeured around in the back of their luxury sedans instead of driving themselves, so the priority is on rear-seat space over driving dynamics.
We've seen the likes of Audi, BMW, Cadillac, Mercedes-Benz and Volvo all roll out long-wheelbase versions of their compact and midsize sedans specifically to cater to Chinese tastes. Even Infiniti - which now bases itself in Hong Kong - offers a long-wheelbase Q70 L not only in China but around the world, and has now bolstered its extended offerings with the reveal of the Q50 L, set to debut at the Chengdu Motor Show later this month.
Set to be produced locally for the local market, the Q50 L adds nearly two inches to the wheelbase of the Q50 to the benefit of rear-seat legroom. Power comes from Infiniti's 2.0-liter turbo four offering 208 horsepower and 236 pound-feet of torque, driving to the rear wheels through a seven-speed automatic transmission with drive-by-wire steering.

Infiniti showcases Vision Gran Turismo concept in the metal

Automakers have been clamoring to convey their ethos to a new generation and cast their brand in a positive light through the Vision Gran Turismo series. But while these concepts are designed for the virtual reality of Gran Turismo 6, some automakers have gone a step further by pulling their creations out of cyberspace and rendering them in the metal. And that's just what Infiniti has done with its design. Infiniti revealed its Concept Vision Gran Turismo back in December, striking a a sleek, low-slung form that looks more polished than a racing car but more track-focused than most concepts. It's powered (at least hypothetically) by a 4.5-liter V8 hybrid powertrain, with center-lock carbon-fiber wheels and rearward-biased 45/55 weight distribution. It's the kind of beast we'd love to drive, but while that may only be possible on Playstation, at least we know it does exist in physical reality – even if only as a full-scale model. Infiniti showcased it alongside the Q80 Inspiration and Q60 Concept at an exclusive event during the Shanghai Motor Show last week, but just revealed the photos now, so you can scope them out in the slideshow above. Related Video: Show full PR text INFINITI VISION GT DISPLAYED OUTSIDE ITS ONLINE WORLD FOR THE FIRST TIME SHANGHAI, China – Last week at the 2015 Shanghai auto show, Infiniti held its inaugural Infiniti Design Night ahead of Auto Shanghai 2015. The evening occasion took place at the Shanghai Himalayas Art Museum. Under the theme of "Aesthetics of Contrast," Infiniti Design Night showcased three design concepts showing an exciting path to Infiniti's future: the Q80 Inspiration (first shown in Paris, October 2014), Q60 Concept (Detroit, January 2015), and the Vision Gran Turismo designed especially for the latest Gran Turismo® 6™ video game. This was the first time the Vision GT was displayed as a real "flesh and bones" concept car, having only been seen and experienced digitally in GT6 prior to this event. The dramatic Infiniti Concept Vision Gran Turismo The Infiniti Concept Vision Gran Turismo is a vision of what a high performance Infiniti could look like in the future. Available for download in GT6 exclusively on the PlayStation®3 system, it was created through close collaboration with the creators of Gran Turismo®, the racing game franchise developed by Polyphony Digital Inc. that has sold more than 72 million copies worldwide.