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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

Japan calls Ghosn's escape inexcusable and vows tighter immigration checks

TOKYO — Japan's justice minister on Sunday called the flight of former Nissan Chairman Carlos Ghosn as he awaited trial on financial misconduct charges inexcusable and vowed to beef up immigration checks. Justice Minister Masako Mori said she had ordered an investigation after Ghosn issued a statement a few days ago saying he was in Lebanon. She said there were no records of Ghosn's departure from Tokyo. She said his bail has been revoked, and Interpol had issued a wanted notice. Departure checks needed to be strengthened to prevent a recurrence, Mori said. While expressing deep regret over what had happened, Mori stopped short of outlining any specific action Japan might take to get Ghosn back. Japan does not have an extradition treaty with Lebanon. “Our nationÂ’s criminal justice system protects the basic human rights of an individual and properly carries out appropriate procedures to disclose the truth of various cases, and the flight of a suspect while out on bail is never justified,” she said in a statement. MoriÂ’s statement was the first public comment by a Japanese government official after the stunning escape of Ghosn, once a superstar of the auto industry. Tokyo prosecutors issued a similar statement Sunday. They had opposed Ghosn's release on bail, arguing he was a flight risk. First arrested in November 2018, Ghosn was out on bail over the last several months, and more recently had moved into a home in an upscale part of Tokyo. He has repeatedly said he was innocent. His statement from Beirut said he was escaping injustice. Japan's justice system has come under fire from human rights advocates for its long detentions, the reliance on confessions and prolonged trials. The conviction rate is higher than 99%. Even if Ghosn had been found innocent, the prosecutors could have appealed, and the appeals process could have lasted years. Ghosn's trial was not expected to start until April at the earliest. During that time, he had been prohibited from seeing his wife, and was only allowed a couple of video calls in the presence of a lawyer. Ghosn had been charged with underreporting his future compensation and breach of trust in diverting Nissan money for his personal gain. Although the details of his escape are not yet clear, Turkish airline company MNG Jet has said two of its planes were used illegally, first flying him from Osaka, Japan, to Istanbul, and then on to Beirut, where he arrived Monday and has not been seen since.

Nissan prices replacement Leaf battery at $5,500

The battery pack is the single most expensive component in a plug-in vehicle and, until now, figuring out the cost to replace one has been a bit of a mystery. Last year, Nissan tried a $100/month price for a new battery in its popular Leaf, but was loudly criticized for that attempt. Today, Nissan is changing gears with a big announcement regarding the price of a new pack for your Nissan Leaf: $5,500 to buy. With an asterisk. Nissan's Brian Brockman, writing at My Nissan Leaf, announced that Nissan Leaf replacement batteries are now available to purchase at certified Leaf dealers in the US at a suggested retail price of $5,499. These packs are the ones found in 2015 Leaf models, which are similar to the ones the Leaf has always had, just with a different, better battery chemistry. To buy a new pack, you need to give Nissan your original battery pack (which Nissan says will be recycled and has a value of $1,000) and the $5,500 "does not include tax, installation fees or an installation kit required for 2011 and 2012 vehicles." That kit costs around $225. A $100/month financing program will still be available (details will be made available later) but now it will have an end date and the driver will own the pack at the end of the payment process. All replacement packs will have the same eight-year, 100,000-mile warranty as the battery in a new Leaf. You can read Brockman's full statement below or over on My Nissan Leaf. Ever since the Leaf entered the market in late 2010, Nissan has been dealing with degrading battery issue, both as a real thing (in warm climates like Arizona) and as a worry in the mind of potential customers. Now that we know how much it'll cost to get a new pack, we can calculate that the overall cost for a new 24-kWh pack is now officially $6,500. That means the price to a customer is less than $270-per-kWh. That's quite low compared to some early estimates, right on target with others and a very big deal for EV shoppers and drivers out there. Hi all: I'm happy to be back to provide a long-awaited update on the Nissan LEAF battery replacement plan. Last year, I posted preliminary details of the program that we'd created based on early survey data, and it led to spirited discussion (and very vocal criticism). So we went back to the drawing board with your comments and the ongoing guidance of the LEAF Advisory Board.