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Nissan ex-Chairman Carlos Ghosn wins release from jail

TOKYO — The Tokyo District Court approved the release of former Nissan Chairman Carlos Ghosn on bail of 1 billion yen ($8.9 million) on Tuesday, although the end of his four months of detention in Japan was delayed when prosecutors appealed that decision. Prosecutors filed their objection to Ghosn's release within hours of the announcement he was going to be granted bail. But their appeal was rejected by the court, paving the way for his release. A lawyer for Ghosn said he would not be able to leave the Tokyo Detention Center until Wednesday at the earliest, because bail procedures can't be done at night. The acceptance of Ghosn's request for bail, his third, came a day after the lawyer, Junichiro Hironaka, said he was confident the auto executive would gain his release. Hironaka, who recently joined Ghosn's defense team, is famous for winning acquittals in Japan, a nation where the conviction rate is 99 percent. Hironaka said Monday that he had offered new ways to monitor Ghosn after his release, such as camera surveillance. Hironaka also questioned the grounds for Ghosn's arrest, calling the case "very peculiar," and suggesting it could have been dealt with as an internal company matter. He welcomed the decision, telling reporters: "It was good we proposed concrete ways showing how he would not tamper with evidence or try to flee." The 1 billion yen bail set by the court was relatively high but not the highest ever in Japan. Among the conditions for Ghosn's release were restrictions on where he can live, a ban on foreign travel and other promises not to tamper with evidence or try to flee, the court said. The former head of the Renault-Nissan-Mitsubishi Motors alliance has been detained since he was arrested on Nov. 19. He says he is innocent of charges of falsifying financial information and of breach of trust. In Japan, suspects are routinely detained for months, often until their trials start. That's especially true of those who insist on their innocence. Prosecutors say suspects may tamper with evidence and shouldn't be released. Two previous requests submitted by his legal team were denied. His previous defense lawyer, Motonari Ohtsuru, had said Ghosn's release might not come for months. Hironaka is among many critics of the Japanese justice system who say such lengthy detentions of suspects are unfair.

Carlos Ghosn, the cost cutter who cost a lot in compensation

PARIS — In his 40 years in the auto industry, the praise Carlos Ghosn has won for turning around businesses has regularly been matched by criticism over the amount he has been paid to do it. In the latest furore over his finances, Japan's Nissan Motor Co said on Monday it planned to oust Ghosn as chairman after alleging he had made personal use of company assets, among other acts of suspected misconduct. The scandal comes just five months after the 64-year-old head of the Renault-Nissan alliance narrowly won a shareholder vote at Renault over his 7.4 million euro ($8.5 million) pay package for 2017, after losing a 2016 vote. Brazilian-born, of Lebanese descent and a French citizen, Ghosn began his career in 1978 at tire maker Michelin, before moving to Renault in 1996, where he oversaw a turnaround at the French automaker that won him the nickname "Le Cost Killer." After Renault sealed an alliance with Nissan in 1999, Ghosn used similar methods to revive the ailing Japanese brand, leading to "business superstar" status in Japan, blanket media coverage and even a manga comic book on his life. As auto markets in western Europe and Japan struggled, Ghosn championed a cheap car for the masses in emerging markets and embraced the electric vehicle before many others. He also never made it a secret that he believed there were too many carmakers in the world and consolidation would continue — in 2016 he added Japan's Mitsubishi Motors to the alliance. But in recent months, attention has increasingly turned to how the complex web of cross-shareholdings between the alliance partners might be simplified to ensure it can thrive following the eventual departure of its main architect. In March, sources close to the matter told Reuters the alliance partners were discussing plans for a closer tie-up in which Nissan would acquire the bulk of the French state's 15 percent stake in Renault. With Japan's Yomiuri newspaper reporting on Monday that Ghosn had been arrested by Tokyo prosecutors on suspicion of under-reporting his salary, the alliance's plans for the future just got more pressing.Writing by Mark PotterRelated Video: Earnings/Financials Plants/Manufacturing Nissan Renault

It won't be long now before Nissan Leaf finally overtakes Chevy Volt

The two best-selling plug-in vehicles ever are the Chevy Volt and the Nissan Leaf. When the two vehicles launched in late 2010, the plug-in hybrid Volt quickly outpaced the all-electric Leaf and, despite lots of ups and downs since then, continues to hold on to a cumulative sales lead. This will change in 2015. Cumulatively, from November 2010 through November 2014, the Volt sold 71,867 units while the Leaf trails with 69,220. That's a difference of just 2,647. Based on current trends (with the Leaf selling around 2,500-2,700 a month and the Volt at 1,500-1,700) we expect the Leaf to take over either in January or, more likely, February when the Leaf takes over as the most popular plug-in car in America. Perhaps even March, depending on how low the numbers are for January and February, which are always slow sales months in the US. Of course, once it takes the crown, the Leaf can't expect to easily hold on for long. A new Volt is coming in the second half of 2015, likely beating a new Leaf to market. The question is, then, how well the Chevy sells with all of its new bells and whistles. Do you think the Volt will be the comeback kid once the 2016 model becomes available? Featured Gallery 2013 Nissan Leaf View 55 Photos Green Chevrolet Nissan AutoblogGreen Exclusive Electric Hybrid ev sales hybrid sales