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Nissan, Renault break up the Ghosn-style almighty chairmanship

YOKOHAMA, Japan — Japan's Nissan Motor and France's Renault said they would retool the world's top car-making alliance to put themselves on more equal footing, breaking up the all-powerful chairmanship previously wielded by ousted boss Carlos Ghosn. The removal of Ghosn, credited for rescuing Nissan from near-bankruptcy in 1999, had caused much uncertainty about the future of the alliance and some speculation the partnership could even unravel. The companies, together with junior ally Mitsubishi Motors, on Tuesday said the chairman of Renault would serve as the head of the alliance but — in a critical sign of the rebalancing — not as chairman of Nissan. "This is a very special day for the alliance," Renault SA's chairman, Jean-Dominique Senard, told reporters after a meeting at Nissan's Yokohama headquarters. He spoke to reporters along with Renault's chief executive, Thierry Bollore; Nissan CEO Hiroto Saikawa; and Osamu Masuko, CEO of the smaller Japanese alliance partner Mitsubishi Motors Corp. Those four executives will meet every month in Paris or Tokyo and oversee various projects, helping to make the companies' operations more efficient, they said. Nissan has said that Ghosn wielded too much power, creating a lack of oversight and corporate governance. It was not clear who would become Nissan's chairman, vacant since Ghosn was arrested in Japan in November. But the automakers gave no indication of any immediate change in their cross-shareholding agreement, one which has given smaller Renault SA more sway over Nissan. The alliance did not announce any changes in mutual stake holdings. The so-called Restated Alliance Master Agreement that has bound them together so far remains intact, they said. "We are fostering a new start of the alliance. There is nothing to do with the shareholdings and the cross-shareholdings that are still there and still in place," Renault Chairman Senard said. "Our future lies in the efficiency of this alliance," he told reporters at Nissan's headquarters in Yokohama. Senard also said he would not seek to be chairman of Nissan, but instead was a "natural candidate" to be vice-chairman. Former Nissan chairman Ghosn was released on a $9 million bail last week after spending more than 100 days in a Tokyo detention center.

Nissan breaks annual EV sales record with two months to spare

Nissan has sold more pure EVs in the US this year than any other automaker, ever. And there are still two selling months left. Last year, Nissan sold a record 22,610 Leaf electric vehicles in the US. This year, through the end of September, Nissan sold 21,822 Leafs and has been selling more than 2,000 a month for the last seven months (in some cases, over 3,000). Basic math skills make it clear that 2014 would handily beat 2013, so now we get to play the guessing game to figure out by how much. Nissan isn't yet saying what October sales were (the month isn't over yet, and we're expecting the numbers on Monday) but if we look up the general trend for the last quarter of 2013, sales stayed steady (compared to the previous months) in October and November and then shot up in December. Given the overall increase in 2014 versus 2013 (up 36 percent through the end of September), who wants to bet that Nissan will sell more than 30,000 Leafs this year? Anyone? Compare Leaf sales with the other plug-in vehicle that went on sale alongside the Leaf at the end of 2010: the Chevy Volt sold over 23,000 units in 2012 and 2013 but is way down so far this year (14,540 through the end of September). An updated Volt will go on sale in the second half of 2015. Nissan has not disclosed when a new Leaf will go on sale. Nissan has sold over 142,000 first-gen Leafs around the world and over 64,000 in the US. Nissan LEAF sets annual U.S. electric vehicle sales record - again NASHVILLE, Tenn. – With more than two months remaining, Nissan LEAF has shattered the record for the most U.S. electric vehicle sales in a single calendar year, surpassing the previous record of 22,610 that it set in 2013. "With nearly 20 electric cars or plug-in hybrid models on the road today, Nissan LEAF remains at the head of the class, outselling the nearest competitor by 50 percent through September," said Brendan Jones, director, Nissan electric vehicle Sales and Infrastructure. "Since the initial launch in 2010 our primary goal is to bring electric vehicles to the mass market in a practical and fun-to-drive package, and we continue to deliver electric cars to more new buyers than anyone else." LEAF sales in 2014 through September are up more than 36 percent compared to the same period last year. With more than 142,000 LEAF sales globally since launch and more than 64,000 of those in the U.S., Nissan is the global leader in electric vehicles. (Nissan will announce October U.S. sales on Monday, Nov.

Mitsubishi Motors to relocate North America HQ to Tennessee

NASHVILLE, Tenn. — Mitsubishi Motors announced on Tuesday that it is relocating its North America headquarters from California to Tennessee, a move that will bring the Japanese automaker closer to its sister company Nissan and strengthen Tennessee's growing reputation as an epicenter of the automotive sector. Tennessee Gov. Bill Lee and Department of Economic and Community Development Commissioner Bob Rolfe — who made the announcement with Mitsubishi Motors North America — say the headquarters move from Cypress, California, to Franklin, Tennessee, will result in an $18.25 million investment in the region and approximately 200 jobs. Lee and Rolfe added that they met with Mitsubishi's global executives last week to convince them to move to Tennessee while in Japan during the Republican governor's first trade mission. It is unclear what financial incentives state officials offered Mitsubishi to move to Tennessee. "As we drive toward the future, this is the perfect time for us to move to a new home. While we say farewell to the Golden State with a heavy heart, we're excited to say hello to Music City," Fred Diaz, Mitsubishi Motors North America's president and CEO, said in a statement. Franklin is located just south of Nashville, also known as "Music City," and is home to the state's most powerful Republicans, ranging from Gov. Lee, U.S. Sen. Marsha Blackburn and House Speaker Glen Casada. "Over the years, Tennessee has become the epicenter of the Southeast's thriving automotive sector, and I'm proud Mitsubishi Motors will call Franklin its U.S. home and bring 200 high-quality jobs to Middle Tennessee," Lee, who took over the office this year, said in a statement. Mitsubishi Motors' North America headquarters has been located in California since 1988. The company expects the relocation will begin in August and will be completed by the end of the year. Initially, a temporary office will handle operations to allow the company time to identify a permanent office. Company officials say the move is part an ongoing effort to "reinvent every aspect of Mitsubishi Motors in the U.S.," as well as strengthen the Renault-Nissan-Mitsubishi Alliance. Nissan has a production plant in Smyrna, Tennessee, and owns a 34% stake in Mitsubishi Motors. Last week, Mitsubishi Motors Corp.