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Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Recharge Wrap-up: Renovo Coupe at CES, Aussies tour US in Tesla Model S

Australians review the Tesla Model S in a Seattle to LA road trip video. The folks from CarAdvice drive the P85+ along the West Coast of the US, testing out the car, trying the Superchargers, stopping by some notable sites along the way and even making use of roadside assistance. While the video shows what it's like to take the Tesla on a US road trip, it gives viewers Down Under a glimpse of their own future. Tesla just began sales in a country that, while on the other side of the globe, also features long distances between cities and a new Supercharger network. Check out the video below or read more at Inside EVs. A UK taxi company is introducing the Nissan e-NV200 to its fleet. C&C Taxi, which has been using six Nissan Leafs in its Cornwall taxi service since early December, has added the passenger-ready e-NV200 Combi to its stable of cabs. Mark Richards, manager of C&C's fleet, is happy with its performance and money saved after over 1,000 miles of service so far, and plans to replace the rest of the diesel fleet with EVs. The Nissan e-NV200 Combi "does everything the Leaf does but is much bigger and offers more space," says Richards. "We'll definitely be ordering more." Learn more in the video below or read more at Hybrid Cars. Learn more about Nissan's fleet EVs at the company's website. The US Department of Energy has released a new report on EV charging behavior and its impact on the grid. The report, which covers grant projects from six different utilities, includes data from over 270 public chargers and 700 residential charging units. Most at-home charging took place at night during off-peak hours. There were some reports of problems with chargers and smart meters working together. Most public charging took place during peak hours, but was low compared to home charging. This means a longer cost recovery period due to the high cost of installation. See the report at the DOE website or read more at Green Car Congress. The Renovo Coupe will be on display at the NVIDIA booth at the 2015 Consumer Electronics Show (CES) for its first public viewing. Renovo Motors CEO Christopher Heiser says, "These are very exciting times for Renovo and we think our new technology, coupled with NVIDIA's breakthroughs in automotive applications, has the potential to make a tremendous impact across the entire automotive industry." The Shelby Daytona-bodied Renovo offers 500 horsepower and 1,000 pound-feet of torque from two electric motors.

Nissan Murano hybrid greens up Shanghai

Nothing says summertime like a muscle car with a ragtop. Or, in China's case, a hybrid crossover SUV, right? So it's a good thing Nissan plans on starting sales of a hybrid variant of its Murano in China for the upcoming warm weather season. Nissan showed off the Murano Hybrid at the Shanghai Motor Show with a supercharged engine that is paired with an electric motor. The company says the powertrain will deliver the fuel economy of a 2.0-liter engine and the power of a 3.5-liter V6 engine. Nissan didn't release actual specs of the engine nor any fuel-economy figures. Back in 2013, Nissan was working on expanding its hybrid choices, including hybrid variants for both the Murano and the Rogue. This powertrain choice makes some sense, since it could be difficult to wring a decent single-charge range out of those relatively heavier vehicles if they were all-electric. With that in mind, take a look at Nissan's press release below. NISSAN APPEALS TO CHINESE WITH TWO WORLD PREMIERES: LANNIA AND MURANO HYBRID AT AUTO SHANGHAI 2015 Lannia makes global debut to capture the hearts of young Chinese customers All-new Murano Hybrid offers excellent fuel economy and driving performance in the luxury SUV segment Customers in China can begin ordering GT-R Nismo and 370Z Nismo today SHANGHAI, China (April 20, 2015) – Nissan unveiled two all-new production models, Lannia and Murano Hybrid, along with two Nismo products, GT-R Nismo and 370Z Nismo, at Auto Shanghai 2015. "These innovative vehicles represent the start of an exciting new chapter in the story of Nissan's presence in, and commitment to, China," said Nissan President and CEO Carlos Ghosn. "Nissan's growth strategy in China will continue to reflect our commitment to use local engineering and manufacturing. And we will maintain our support for China's efforts to promote more efficient and sustainable transportation. On both of these fronts, Lannia and Murano Hybrid will lead the way forward." Highlights of the Nissan display: Building on Nissan's longstanding success in the sedan market, Lannia delivers a fresh, distinctive personality that China's young generations embody. As the first product developed and designed for the young Chinese generations, especially those in their 20s and 30s today who are seen as energetic trendsetters, Lannia is a tangible expression of the company's commitment to China.