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Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.

The 2017 Mitsubishi Outlander Sport Limited Edition debuts in Chicago

The Mitsubishi Outlander Sport has been on sale with only a mild refresh since 2010. For 2017, Mitsubishi is injecting some much needed life into the crossover. A Limited Edition trim, or simply LE, will be fully revealed this week at the 2017 Chicago Auto Show. Like most of the automaker's products, the Outlander Sport LE packs lots of features into a compact and relatively affordable package. The LE trim sits directly above the base Outlander Sport ES and will set you back $21,995, though it's unclear if that includes destination. An alloy fuel door, black painted door mirrors and 18-inch alloy wheels, fog lamps, HID headlamps, a rearview camera and a Limited Edition badge are all included. The trim is available in any exterior color, but the interior of the Outlander Sport LE gets a special treatment. Red stitching on the steering wheel, shift knob, and brake lever compliment heated seats, aluminum pedals, and an infotainment system packed with Apple CarPlay and Android Auto. The Mitsubishi Outlander Sport may be getting up there in age, but it does pack a lot of features, decent packaging, and an excellent warranty into a reasonably affordable package. No word on how limited this Limited Edition may actually be. Related Video: Featured Gallery 2017 Mitsubishi Outlander Sport Limited Edition Image Credit: Mitsubishi Chicago Auto Show Mitsubishi Technology Infotainment Smartphone Crossover

Former Mitsubishi CEO Osamu Masuko dies at 71

TOKYO — Former Mitsubishi Motors Chief Executive Osamu Masuko, who engineered the Japanese automakerÂ’s alliance with Nissan, has died. He was 71. Masuko was named a special adviser to the company when he resigned for health reasons as of Aug. 7. Mitsubishi said he died of heart failure on Aug. 27. Masuko joined with former Nissan Chairman Carlos Ghosn in forming an alliance in 2016. Ghosn was arrested and charged with alleged financial misconduct in late 2018, but skipped bail and fled to Lebanon. After he was named president of Mitsubishi Motors in 2005, Masuko worked hard to rebuild its brand image, which had been hammered by a massive, systematic and decades-long cover-up of defects that surfaced in the early 2000s. Calm and soft-spoken, Masuko came to symbolize Mitsubishi Motors' revitalization. Masuko had said he was stunned and saddened by Ghosn's arrest. “I still canÂ’t figure out why, and I just donÂ’t understand,” he told reporters then. Nissan Chief Executive Makoto Uchida offered his condolences. “His wisdom and foresight will remain as an inspiration to the automotive industry, and we will always honor his memory,” Uchida said, stressing his role in building the alliance as well as other contributions to the overall auto industry. Mitsubishi's alliance with Nissan and Renault of France was seen as an astute move, giving the automakers an edge in an increasingly competitive global market. “During his tenure for about 16 years at MMC, Masuko made great achievements by fully demonstrating his management skills, which also enabled the company to overcome difficulties,” Mitsubishi Motors said. Masuko helped build the companyÂ’s business in Southeast Asia, a key source of growth. He also aggressively pushed the development of greener models. Masuko studied political science and economics at Waseda University and did not have an engineering background. He joined trading company Mitsubishi Corp. in 1972. In 2004, he joined Mitsubishi Motors, which makes the Pajero and Outlander sport utility vehicles, as managing director of its overseas operations. Tokyo-based Mitsubishi Motors said it is not planning any special services, respecting MasukoÂ’s wishes. The family has already held a vigil and funeral, it said. Related Video: