2005 Mitsubishi Lancer Evolution Sedan 4-door 2.0l on 2040-cars

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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

France's Macron says Renault-Nissan partnership is a 'jewel' to be strengthened

TOKYO — French President Emmanuel Macron on Wednesday called for further synergies and alliances to strengthen the Renault-Nissan partnership in a global market. "The Renault-Nissan alliance is a jewel in the industry," Macron told French expatriates in Tokyo. "We created a giant which we must not only preserve but develop synergies and alliances to strengthen it in the face of international competition." His comments appeared to leave open the possibility both of a deeper integration of the 20-year-old Renault-Nissan alliance, which has been shaken by the scandal over its former chief Carlos Ghosn, and tie-ups with other manufacturers. Last month, Renault and Italian-American group Fiat Chrysler Automobiles (FCA) announced they were in merger talks. But the discussions were called off after FCA grew frustrated with the role the French state was playing, especially its need to secure agreement from Nissan over how to move the merger forward. Since the break-off of the FCA talks, Renault executives have been looking to rebuild ties with Nissan, which is keen to reduce the influence the French state has in the alliance via its 15% stake in Renault. Renault owns 43% of the Japanese automaker, which in turn holds a 15%, non-voting stake in its partner. Nissan on Tuesday threw cold water on hopes for a quick fix to strained relations with France's Renault SA , saying inequality between the partners could unravel their two-decade-old automaking alliance. Macron said on Wednesday France would remain vigilant that Carlos Ghosn's presumption of innocence and the former Renault-Nissan leader's rights to defend himself in a Japanese lawcase are respected. "It's not up to the French president to interfere publicly in a judicial case," Macron said. "Japanese justice is independent." "We will be vigilant, just like with all our citizens across the world who have to answer to the law, through consular activity, so that the defendant's rights and presumption of innocence are respected in that case."

Mitsubishi HQ raided by the Japanese government

Mitsubishi's fuel economy scandal continues to grow, and the Japanese government wants answers. According to Reuters, the Japanese Transport Ministry raided the company's headquarters and a factory in Nagoya today. This raid comes soon after the company revealed that a number of its SUVs were also being sold with incorrect fuel economy ratings. The Japanese government issued a stop-sale on those vehicles a few days ago. This raid also follows an internal investigation conducted by Mitsubishi to discover how this fuel economy scandal happened, and how the practices that led to it were able to continue for 25 years. The internal investigation revealed a few contributing factors that all fell under issues with the company's culture. There was significant pressure throughout the company to reach fuel economy targets and missing them wasn't readily accepted. Questioning decisions of management was also discouraged, and it seemed the different divisions of the company weren't working well together. The findings of this raid have yet to be revealed, but it will be interesting to see how they compare with those of the internal investigation. The Japanese Transport Ministry seems intent on preventing a repeat of this with another company considering that, according to Reuters, it "sent documents to other automakers to enforce compliance with rules for calculating mileage ." Related Video: News Source: Reuters via Automotive News EuropeImage Credit: Julien Amado / Autoblog Quebec Government/Legal Green Mitsubishi Fuel Efficiency investigation