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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

Mitsubishi Outlander PHEV selling well in Netherlands

Talk about a Dutch treat. Mitsubishi says sales of its Outlander Plug-in Hybrid are brisk in Europe, helped in a big way by plug-in vehicle tax incentives in the Netherlands that are getting more people there to buy the world's first production plug-in hybrid CUV. The Japanese automaker has taken more than 12,000 orders for the model from Europeans and had delivered about 8,200 of them as of the end of last year, all but 200 of which were to the Netherlands. Mitsubishi will start broader sales throughout the continent this year and is also expected to start sales in the US by next year. The company is looking for plug-ins to account for 20 percent of its global sales by the end of the decade. Mitsubishi, which also sells the model in Norway, Sweden and Switzerland, hopes to reach an annual production rate of 50,000 Outlander PHEVs by the end of the year. Last August, the company resumed full-scale battery production after shutting things down for a few months for a safety probe stemming from a short-circuiting issue. The Outlander PHEV can run for 32 miles on electric power alone and gets a European-rated 124 miles per gallon. Check out Mitsubishi's press release on its Euro sales below. MITSUBISHI OUTLANDER PHEV CY13 SALES – EUROPEAN INAUGURATION With a plan for EVs and EV-derived PHEVs to represent 20% of its global sales by 2020, Mitsubishi Motors Corporation has set itself an ambitious, yet realistic target. More so in Europe, Mitsubishi Motors' largest market for these technologies. 12,000+ orders / 8,000+ deliveries In this respect, the successful sales launch of Outlander PHEV in Europe – MMC's first plug-in hybrid electric vehicle and forerunner of a wider PHEV range – tends to vindicate the Corporation's objectives. First launched in selected markets (The Netherlands, Sweden, Norway and Switzerland) from October 2013,Outlander PHEV has collected over 12,000 orders in Europe and these have already translated into 8,197 deliveries to end-customers by the end of December, of which 8,009 units for The Netherlands, the latter boosted by a tax scheme favourable to eco-friendly technologies such as low-emission vehicles. With more cars currently on their way to Europe, Mitsubishi Motor Sales Netherlands will soon be able to deliver the 11,000+ orders currently in its books and growing.

2014 Pikes Peak Hill Climb Practice Day 1

This year the big news about the Pikes Peak International Hill Climb is about who isn't showing up. Sebastien Loeb, fresh off his record setting run last year, hasn't bothered coming back (and probably won't unless someone breaks his record). The Millen family is also noticeably absent. Rhys and Rod have been driving here for the past couple of decades but it looks like Rhys is focusing his efforts on Global RallyCross.
Last year Pikes Peak added a fourth practice day on Tuesday to allow drivers to get more time on the mountain. It's an optional practice day, but most drivers show up.
Today, both Time Attack divisions (1 and 2) as well as Unlimited division drove the lower third of the mountain. Pikes Peak Open, Open Wheel, Electric Production, Electric Modified, Exhibition and Vintage all practiced on the middle section, and bikes power sports did the top section.