2002 Mitsubishi Montero Sport Limited / Nicest In Country / Only 31k Miles / Awd on 2040-cars

Auto blog

Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands

AMSTERDAM — Carlos Ghosn has launched a court case in the Netherlands against Japanese carmakers Nissan Motor and Mitsubishi Motors, who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday. Ghosn is seeking 15 million euros ($16.8 million) in damages from the carmakers, as grave mistakes were made when he was sacked, NRC reported, citing his lawyer. "In the Netherlands, if you want to fire an executive you have to first tell him what he's being accused of, and you have to provide him with the evidence for the accusations. Neither of those things has happened," lawyer Laurens de Graaf told NRC. Ghosn fell from grace late last year when he was arrested in Japan and sacked by Nissan on charges of financial misconduct, which he denies. He has also been fired as the CEO and chairman of French carmaker Renault. Ghosn was freed in April from jail in Japan on a $4.5 million bail. Among other charges of fraud and misconduct, Nissan and Mitsubishi have said Ghosn improperly received $9 million in compensation from their joint venture. Suspect expenses Ghosn made when he chaired Renault and Nissan amounted to about 11 million euros, Renault's board said in June. Ghosn holds French, Lebanese and Brazilian citizenship, but opted for the fiscally more friendly Netherlands as his tax domicile in 2012. The holding company for the Nissan-Mitsubishi alliance is also incorporated in the Netherlands. The district court in Amsterdam is reviewing the case but has not set a trial date yet, NRC said. Government/Legal Hirings/Firings/Layoffs Mitsubishi Nissan Carlos Ghosn

Chip shortage will hit Nissan, Suzuki and Mitsubishi in June

TOKYO — A global chip shortage is forcing Nissan and Suzuki to temporarily halt production at some plants in June, sources with direct knowledge of the plans told Reuters on Friday. Nissan will idle its factory in Kyushu, southern Japan, for three days on June 24, 25 and 28, while making production adjustments during the month at its Tochigi and Oppama plants in Japan, three sources said. Nissan will also temporarily halt production of some of its models at its Mexico plant, they said, declining to be identified because the plan is not public. "A global shortage of semiconductors has affected parts procurement in the auto sector. Due to the shortage, Nissan is adjusting production and taking necessary actions to ensure recovery," a Nissan spokeswoman said. Suzuki will idle its three plants in Shizuoka prefecture from three to nine days, two sources said, also declining to be identified because the plan is not public. The plan "has not been confirmed," a Suzuki spokesman said, explaining that while the carmaker gave its provisional production plan to auto part makers, it is still making adjustments to minimize the impact of the chip shortage. Elsewhere, Mitsubishi will reduce production by 30,000 vehicles in total in June at five plants in Japan, Thailand and Indonesia, a spokeswoman said, adding that the impact has already been factored into its earnings outlook for the current fiscal year. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Plants/Manufacturing Mitsubishi Nissan Suzuki

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan