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New allegations against Ghosn concern payments to Saudi businessman

BEIJING – Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. Prosecutors arrested Ghosn for a third time on Friday, accusing him of aggravated breach of trust in transferring personal investment losses to the automaker. The prosecutors' statement said they believe that around October 2008, Ghosn was trying to deal with losses on paper of 1.85 billion yen ($16.6 million) incurred on a swap contract he had with a bank which it did not name. A person helped arrange a letter of credit for Ghosn and a company run by the person later received $14.7 million in Nissan funds in four installments between 2009 and 2012, the statement said, adding that the payments were made in Ghosn's and the person's interests. "By doing so, (Ghosn) behaved in a way that breached trust, and inflicted damage on the property of Nissan," the statement said. The statement also said Ghosn had earlier sought to have Nissan shoulder the appraisal losses directly. According to the Nissan sources who have knowledge of the company's probe into its former chief, the person who helped Ghosn is Khaled Al-Juffali, vice chairman of one of Saudi Arabia's largest conglomerates, E. A. Juffali and Brothers, and a member of the board at the Saudi Arabian Monetary Authority. He is also majority owner of a company called Al-Dahana which owns half of a regional joint venture called Nissan Gulf with the other half held by a wholly owned unit of Nissan Motor. Sheikh Khaled Juffali has no comment on this subject, according to an emailed statement from E. A. Juffali and Brothers. Ghosn's Tokyo-based lawyer, Motonari Otsuru, was unavailable for comment on this article, according to a person who answered the phone at his law office. A representative for the Ghosn family declined to comment. Other media have said Ghosn has through a lawyer denied that he shifted losses to Nissan and has told investigators that the four payments were for legitimate business purposes, including a reward for handling problems at Nissan dealers in Saudi Arabia. Tokyo prosecutors declined to comment. Asked about Ghosn's reported comments, a Nissan spokesman said: "We cannot comment on matters related to Ghosn's arrest for breach of trust.

Recharge Wrap-up: Big Oil fails at renewable fuel, scientists study air with EVs, plug-in Panamera sales

Big Oil companies help keep renewable fuels out of your tank, a new report shows. No surprise there, right? The Renewable Fuels Association published a report card grading the country's largest retail gasoline chains on fuel offerings like E85 and E15. The report gave failing grades, with less than one percent of stations offering E15 or E85, to "Big Five" companies Exxon, BP, ConocoPhillips, Chevron and Shell, among other oil company and convenience/grocery store brands. The only major oil companies that didn't get an "F" were Valero (D), Cenex (B), and Marathon (A-). The eight companies that scored an A+ had at least 25 percent of their stations offering E85 or E15. Read more at Domestic Fuel.Leicester scientists are studying local air pollution using EVs. Beginning July 4, University of Leicester researchers began driving electric vehicles kitted out with special sensors to monitor air quality throughout the city (similar to how California does it). Now their emissions-free daily driving duties double as data collection for their studies. "By monitoring air quality as a seamless part of our daily transport system, we are providing a cost-effective way to help inform future policy and operational systems," says the University's Dr. Roland Leigh. Read more at Fleet News. "There is no doubt electric cars are the future." – Nissan's Andy Palmer Nissan is exploring the idea of taking its Leaf EV to India, but a lack of charging options is an obstacle. According to Nissan's chief planning officer Andy Palmer, "There is no doubt electric cars are the future. The product is there, what we need is infrastructure. Charging is a big challenge." Though Nissan stopped short of saying it (this time), this could possibly mean working with Mahindra, which said it is open to collaborating with other companies concerning EVs. Learn more in this article from the Hindustan Times and know that India is rolling out a plan to encourage the production and adoption of EVs. The National Electric Mobility Mission Plan will get over $2 billion in funding, and some of that will go toward creating a charging infrastructure (you hear that, Nissan?). This is good news for EV manufacturers, India's economy and people who enjoy breathing clean air. Read more at The Financial Express.Porsche has reported a significant sales increase, part of which is due to demand for the Panamera S E-Hybrid.

Renault-Nissan has sold more EVs than its next two competitors combined

Nissan may not be doing so hot with sales of its Leaf electric vehicle in the US this year, but the Japanese automaker and its France-based partner Renault still remain the gold standard of electric-vehicle sellers. Thanks to numbers crunched by the good people over at EV Sales, we learn that the Renault-Nissan Alliance has moved more than 265,000 electric vehicles around the world. That accounts for more than a quarter of all the EVs sold worldwide and is more than Mitsubishi's 11 percent share and General Motors' 10 percent share combined. Nissan and Renault surpassed the quarter-million electric-vehicle mark in June. There are shifts afoot, though. Renault-Nissan's global EV market share is only 18 percent this year, and the Alliance is losing share to companies like Volkswagen, BYD, and, to a lesser extent, BMW. That shift can be seen in this year's US sales numbers, where the Nissan Leaf has pretty much plunged down. In fact, with VW and BMW broadening their inventory of plug-in models, Germany can claim the third-place spot in the list of countries with the most "electric" automakers, after China and Japan. The US is trailing, even if many people associate electric cars with California's Tesla. On that note, both Ford and General Motors have lost electric-vehicle market share this year, while Mitsubishi has essentially tread water. GM's numbers (and Nissan's, for that matter) need some context because Americans have been holding off on purchasing a first-gen Chevrolet Volt extended-range plug-in while the automaker readies a new and improved version. All told, Japanese companies have produced the most plug-in vehicles, accounting for 39 percent of the world's market so far, while the US is responsible for about one in four electric vehicles ever made. Sales '15 % Total Sales % Renault-Nissan 44,003 18 265,205 27 VW (VAG) 28,480 12 42,743 4 BYD 25,592 11 51,338 5 Tesla 24,867 10 83,587 9 Mitsubishi 24.117 10 108,883 11 BMW 15,469 6 31,822 3 Ford 11,548 5 65,696 7 GM 11,617 4 100,818 10 Featured Gallery 2015 Nissan Leaf View 12 Photos News Source: EV Sales Green Nissan Renault Electric ev sales renault-nissan