2013 Mitsubishi Lancer Evolution Mr Sedan 4-door 2.0l on 2040-cars

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Nissan and Carlos Ghosn settle SEC claims over undisclosed compensation

WASHINGTON — Nissan and its former Chief Executive Carlos Ghosn have agreed to settle claims from the U.S. Securities and Exchange Commission over false financial disclosures related to Ghosn's compensation, an SEC statement said on Monday. Nissan will pay $15 million, while Ghosn agreed to a $1 million civil penalty and a 10-year ban from serving as an officer or director of a publicly traded U.S. company, the SEC statement said. Ghosn was arrested in Japan and fired by Nissan last year. He is awaiting trial in Tokyo on financial misconduct charges that he denies. Former Nissan human resources official Gregory Kelly agreed to a $100,000 penalty and a five-year officer and director ban. Nissan, Ghosn, and Kelly settled without admitting or denying the SEC's allegations and findings. The SEC said in total Nissan in its financial disclosures omitted more than $140 million to be paid to Ghosn in retirement — a sum that ultimately was not paid. The SEC also accused Ghosn in a suit filed in New York that he engaged in a scheme to conceal more than $90 million of compensation. That suit is being settled as part of the agreement announced Monday. Nissan confirmed it had settled the allegations and said it "is firmly committed to continuing to further cultivate robust corporate governance." Nissan provided significant cooperation to the SEC, the agency said. The company now has a new governance structure with three statutory committees — audit, compensation and nomination — and has amended its securities reports for all relevant years. The SEC said beginning in 2004 Nissan's board delegated to Ghosn the authority to set individual director and executive compensation levels, including his own. The SEC said "Ghosn and his subordinates, including Kelly, crafted various ways to structure payment of the undisclosed compensation after Ghosn's retirement, such as entering into secret contracts, backdating letters to grant Ghosn interests in Nissan's Long Term Incentive Plan, and changing the calculation of Ghosn's pension allowance to provide more than $50 million in additional benefits." "Investors are entitled to know how, and how much, a company compensates its top executives. Ghosn and Kelly went to great lengths to conceal this information from investors and the market," said Stephanie Avakian, co-director of the SEC's Division of Enforcement.

Mitsubishi debuts Concept CA-MiEV, a new suburban EV with a 186-mile range

Mitsubishi is stretching the electric jellybean. For years, the i-MiEV was regular presence at Mitsubishi's auto show booths around the world, and the car rightfully earned its nickname because of its rounded shape. Today, at the Geneva Motor Show, Mitsubishi finally unveiled a version of the i-MiEV that looks much more more at home among the alternative-powertrain car fleet of the near future.
But there's more being elongated here than just the shape. The official range of the standard i (as the i-MiEV is known in the US) is 62 miles. The Concept CA-MiEV - where the CA stands for Compact and Advanced - is supposed to be able to go 300 kilometers (186 miles) from a 28-kWh lithium-ion battery and lightweight 80-kW motor/inverter/charger unit. This is kind of astonishing, given the range estimates of other compact and midsize EVs on the market today - most are in the 80-100-mile range. Of course, the specific test used to get the 186-mile result matters, too, since the regular i received 98 miles on the LA4 driving cycle range. The US-i has a 16-kWh pack.
The increased distance means that Mitsubishi is talking about the Concept CA-MiEV as the "suburban EV," with enough range for "about one week of driving for an average European driver." If you need more, Mitsubishi hints that the flat battery pack leaves room for a range-extender. Add in convenience features like WiTricity wireless charging and the ability for the car to send an emergency email if it's stolen, and you've got the commuting vehicle of the future. With a coefficient of drag of just 0.26 and boomerang lights, of course.

Mitsubishi recalls 141,000 Lancers, Outlanders, and Outlander Sports

Mitsubishi issued two recalls this month, one big, one small, that affect several cars from the brand's past and current lineup. The major recall covers old Lancers, Lancer Sportbacks, Outlanders, and Outlander Sports that might have an issue with corrosion weakening the suspension. The second recall affects the current-generation Outlander and Outlander PHEV that have improperly built seat belt assemblies. NHTSA campaign No. 20V279000 states that Mitsubishi is recalling 141,200 2008-2010 Lancers, 2010 Lancer Sportbacks, 2008-2013 Outlanders, and 2011-2016 Outlander Sports due to the possibility that the front cross member on these vehicles might be damaged. If these vehicles encountered road salt, snowmelt water, and anti-freezing agents, the cross member could corrode. If the cross member corrodes, there is a slight possibility the front control arm could detach and create an extremely dangerous situation.  This recall only pertains to vehicles in the Salt Belt region, which includes Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, Wisconsin, and Washington D.C. Mitsubishi dealerships will inspect affected cars and make a judgment call from there. If the damage is minimal or non-existent, Mitsubishi will spray and seal the cross member with new anti-corrosion protection. If the cross member is damaged, Mitsubishi will replace it for free.  NHTSA campaign No. 20V280000 affects 3,238 2019-2020 Outlanders and 2019 Outlander PHEVs due to potentially faulty seat belts. On these vehicles the seat belts for the second-row passenger-side seat might have the wrong part. "Due to inappropriate manufacturing process at the supplier, the guide piece (which is a component part of the second-row seat belts’ anchorage) for the left side seat belt was mistakenly assembled with the right side seat belt, causing seat belt restraint efficiency for vehicle occupants to decrease in the vehicle collisions," a recall document states. Mitsubishi dealerships will inspect the seat belts in affected cars and replace them, if necessary. It is believed only 1% of the 3,238 vehicles have the defect. Visit the NHTSA for more information.