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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.

Nissan to build Golf-fighter in Spain

Nissan hasn't had a proper European entry in the ridiculously popular compact hatchback segment since it stopped offering its somewhat staid and uninspiring Almera (above) in 2006. According to Automotive News Europe, the new machine, which will not be called Almera, will be marketed against the Volkswagen Golf and Ford Focus - two extremely popular models in Europe. Production is slated to begin in July of 2014.
The new compact will be built in Barcelona, Spain, at the factory that currently builds the Pathfinder, Navara pickup and NV200 commercial van. An investment of $178 million will be made to assemble the compact car, and an additional $27 million will go to the plant to create more trucks and transmissions for electric vehicles.
The decision to invest in Spain comes after the automaker successfully renegotiated contracts with local unions. Similar talks are underway in France, where Nissan partner Renault is based, but as of yet no new agreements have been struck. Feel free to browse through the official press release below.

Recharge Wrap-up: Mitsubishi Outlander PHEV Finishes AXCR, Nissan Leafs drive 528 million collective miles

The Mitsubishi Outlander PHEV has successfully completed the Asia Cross Country Rally 2014. The plug-in Mitsu finished first in the EV class, and 14th overall, clocking in at 19 hours, 17 minutes and 12 seconds. For its second year in the competition, the Outlander PHEV used a new suspension with more ground clearance to help it tackle the race's treacherous terrain. Besides the glory of taking on the challenging competition, the rally helped Mitsubishi gather valuable data for EV development. The race took place over 1,367 miles of varied terrain from Thailand to Cambodia. Read more at Hybrid Cars, or visit Mitsubishi UK's Facebook page. Nissan Leaf drivers have driven more than 528 million miles worldwide. That accounts for a reduction of 150,000 tons of carbon dioxide emissions since the EV's 2010 launch. Nissan projects that Leaf drivers will surpass a collective 1 billion electric kilometers (621 million miles) by January 2015, or perhaps even sooner if sales keep increasing. The mileage data was collected through the car's CarWings telemetry. Read more at Green Car Congress. 40 percent of luxury cars will be powered by some form of electrification by 2030, according to Audi. Whether it's battery-electric, hybrid, or plug-in hybrid, electrons will be doing their share to get the well-heeled from place to place. According to an article at The Sydney Morning Herald, PHEVs are "the most promising option." The BMW i8 is a fine example, as is the Porsche Panamera S E-Hybrid, and Audi and Mercedes-Benz have plug-in plans of their own. Lexus, not so much. Read more at The Sydney Morning Herald. PGA golfer Hunter Mahan has taken delivery of a BMW i3 he won by scoring a hole-in-one. BMW offered a free, all-electric i3 to the first player to score a hole-in-one in the 2013 BMW Championship at Conway Farms Golf Club, which Mahan did on the 17th hole. The BMW Championship raised money for Evans Scholars Foundation. BMW Hole-in-One Scholar Melyzjah Smith, who was awarded a full four-year college tuition and housing scholarship in honor of Mahan's slick shot, was on hand to meet the golfer as he received his i3. Read more in the press release below. Uber has hired President Obama's 2008 campaign manager as its senior vice president of policy and strategy. David Plouffe will help the ride-hailing app navigate government policy and relations. The Taxicab, Limousine and Paratransit Association didn't think the move was a good one.