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Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.

Mitsubishi kills CHAdeMO on upcoming Outlander PHEV

Mitsubishi will be adding a number of features to its Outlander Plug-in Hybrid SUV when it introduces the model to the US this summer. It'll also be subtracting a CHAdeMO-standard fast-charging port. The Japanese automaker is saying there aren't enough compatible stations in the States to warrant it, so domestic drivers will have to settle for the SAE port for their fast-charging purposes. Mitsubishi and Nissan are the two Japanese automakers that have been pushing hardest for CHAdeMO as a fast-charging standard. Many US and German automakers have been pushing the competing SAE Combo standard for fast-charging, but the charging station companies seem to be just as happy to install EVSEs with both ports on them. Mitsubishi showed off an Outlander PHEV at a reception in advance of the North American Auto Show in Detroit starting this week, though the car won't be at the show itself. The place where the CHAdeMO port is usually placed was covered by a plastic plate, according to Automotive News. Mitsubishi Motors North America spokesman Alex Fedorak confirmed to Autoblog that the Outlander PHEV will make its US debut by late summer, and that it wouldn't have a CHAdeMO charging port. The Outlander PHEV will start sales in August, and Mitsubishi is hoping the model's introduction will push Mitsubishi's US sales above the 100,000-vehicle threshold for the first time since 2007. The automaker has repeatedly delayed the US debut of the Outlander PHEV. While Mitsubishi hasn't released specifications, the model is likely to have better fuel efficiency and more power than its Japanese and European counterparts. Featured Gallery Plug In 2014: Mitsubishi Outlander PHEV View 12 Photos News Source: Automotive News, Automotive NewsImage Credit: Copyright 2016 Sebastian Blanco / AOL Green Mitsubishi SUV Hybrid PHEV

Mitsubishi says it will make money from EVs

The Mitsubishi i-MiEV is the lowest-cost plug-in vehicle available in the US. The spartan EV's small price tag shouldn't lead you to believe the company doesn't see dollar signs where there's a plug. Mitsubishi says that electric vehicles are one of the three profitable segments that have helped the company get back into the black. The other two are light trucks and crossovers. We suspect that the resounding success of the Outlander PHEV played a bigger role in this than the i-MiEV, but you never know. Mitsubishi Motors Corp president Tetsuro Aikawa told Automotive News that the company will keeps its focus on those three segments and ease back on sedans and performance cars. To that end, the Outlander Plug-In Hybrid will come to the US next April, many years after it went on sale in Japan and Europe. The vehicle will fit well with Mitsubishi's plans to shift its strategy to SUVs and CUVs here. Related Video: