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Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.

Nissan working on something radical for Le Mans

With Porsche joining Audi and Toyota at the front of the LMP1 grid at Le Mans next year, Nissan is the next to be throwing its hat (and considerable R&D budget) into the proverbial ring. But only if it's allowed to do something radically different, according to the latest report in Car magazine.
Just what that means remains to be seen, but Nissan is reportedly in active discussions with the ACO (the body that governs the race) to see how far it can stretch the regulations. The ACO has taken an intriguingly different approach to equalizing performance, mandating the maximum amount of energy that can be used per lap instead of telling teams what kind of engines they can use. That's how Porsche is entering with a four-cylinder engine, Toyota with a V8 and Audi with a diesel six. But when it comes to the shape of the car itself, the rules are considerably more restrictive.
Unfortunately the rules would prohibit Nissan fielding the ZEOD RC (with its narrow front track) in the LMP1 class, relegating it instead to the Garage 56 slot for experimental racers (which the DeltaWing filled before). And the realities of endurance racing would effectively prohibit anyone from fielding an all-electric racer. Within those confines, though, Nissan is eager to find enough wiggle room to make something both visually and technically different from other LMPs. And if the ACO won't let it do so at Le Mans, it could turn to another race or series (like the Nürburgring 24) that would.

Nissan expands, shrinks Leaf recall for missing weld points

Chalk this one up to the quirks of the English language. The other day, we had a post on the recall of a small number of 2014 Nissan Leaf EVs that were missing weld spots. The official bulletin from the National Highway Traffic Safety Administration said that "any vehicle missing welds will be replaced, free of charge." We read that as saying that the welds would be replaced, but in fact it's the cars themselves that will be swapped out. NHTSA said that 211 Leafs were potentially involved in this recall, but we heard from Brian Brockman, Nissan's senior manager of corporate communications, that Nissan is actually looking at, "approximately 276" vehicles. More importantly, Brockman clarified that, "If a vehicle is found to be missing the welds, the entire vehicle will be replaced." NHTSA documents on Inside EVs show that Nissan expects just 0.65 percent of those Leafs will need to be replaced. Brockman wouldn't say exactly how many cars Nissan thinks are affected, but 0.65 percent of 276 is just 1.8 vehicles. Brockman did say that, "you'd be correct to say that we expect the number to be very low." Read Nissan's full statement below. Nissan is conducting a Voluntary Recall Campaign on approximately 276 MY2014 LEAF vehicles to inspect the front member assembly welds. Due to an isolated supplier process error that has been corrected, a small number of vehicles within a subset of MY2014 LEAF vehicles manufactured during a two-week period may have front frame member assembly components that were not welded to proper specification. This can affect crash performance. Within the next few weeks, affected LEAF owners will be asked to bring their vehicle to a certified Nissan LEAF dealer for an inspection. If the vehicle is determined to be affected, Nissan will provide owners with a brand new replacement vehicle at no additional cost. A loaner vehicle will be provided during the vehicle exchange process. It is anticipated that only a handful of retailed vehicles are affected by the weld issue and require vehicle replacement. Nissan is committed to a high level of customer service and satisfaction and is working with its dealers to provide an outstanding ownership experience to Nissan LEAF owners.