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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.

Mercedes and Infiniti confirm joint production in Mexico [w/video]

It's official, folks: After initial reports last week indicated that Mercedes-Benz was preparing to begin assembly at the Nissan plant in Aguascalientes, Mexico, the two parent companies have announced just that. Only instead of using the existing Nissan plant at the site (in operation since 1992), Daimler and the Renault-Nissan Alliance have announced a joint venture to build a new one alongside it.
The latest stage in the growing French-German-Japanese collaboration is part of a new collaboration that will see Infiniti and Mercedes jointly develop and build a line of compact premium vehicles, with the first Infiniti models set to roll off the assembly line in 2017 and the first Benzes to follow a year later. Neither party announced exactly which models that would encompass, but Mercedes already has a robust line of small vehicles (including the A-Class, B-Class, CLA and GLA), and Infiniti has long been toying with the idea of slotting in something smaller below the Q50.
The billion-euro project, split evenly between the two industrial giants, is set to create 5,700 new jobs in Mexico. In addition to the Aguascalientes project, Infiniti and Mercedes are also undertaking joint production of four-cylinder engines (initially for the C-Class and Q50) in Decherd, Tennessee, from which they will be exported around the world. By the time the new factory in Mexico reaches full capacity in 2021, it will have the capability to produce 300,000 vehicles annually. That's on top of the 850,000 vehicles the existing facility is capable of handling.

How Infiniti's 'gas-generated EV' isn't the jumbo shrimp of powertrains

LOS ANGELES — Infiniti recently introduced the concept of what it's calling "gas-generated EV" powertrain technology. At first read, and perhaps everyone thereafter, the term seems contradictory, not unlike "jumbo shrimp." How can an electric vehicle use gasoline? The answer to that is both a technological one and a marketing one. Technologically speaking, Infiniti's electrified powertrain concept is a series hybrid, most comparable to what Honda employs in its Insight, Accord Hybrid and new CR-V Hybrid. In the most basic of terms, the car's electric motor powers the wheels, the battery pack powers the electric motor, and the gasoline engine recharges the battery pack along with regenerative braking. By contrast, a parallel hybrid system as used by Toyota and others can power the wheels with the electric motor, the engine or, most frequently, both simultaneously. The result of a series hybrid is a powertrain that performs and feels more like an electric vehicle, while the engine generally whirs away, often not in step with what your right foot is doing. The Infiniti system is comparable to this, albeit with more powerful motors resulting in a more performance-oriented bent. Here's where things diverge, however. Under certain constant cruise conditions, say on the highway, the Honda system directly connects the engine with the drive wheels for greater efficiency. The Infiniti "gas-generated EV" concept will not, which frees engineers and designers to package the gasoline engine someplace other than under a front hood. In that way, it benefits from the sort of packaging advantages associated with electric vehicles. The closest comparable in this way is the BMW i3, which locates its tiny gasoline engine under the cargo area and does not attach it mechanically to the drive wheels. That's a range extender for an electric vehicle, though, which Infiniti is quick to insist is not what's going on here. There is no plug. This is a hybrid. So what's the deal with that name? If it walks like a duck and talks like a duck Â… Talking with Infiniti Group VP Jeff Pope, "gas-generated EV" is definitely a work in progress or at least a placeholder for something catchier and perhaps less contradictory in the future. "Why we're using 'gas-generated EV' is to get away from 'hybrid,' because 'hybrid' is associated with a parallel hybrid system, which has a gas engine and an electric motor that both run the powertrain.