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Mitsubishi confirms pair of MiEV Evolution II electric racecars for Pikes Peak

Preparing for next month's Pikes Peak International Hill Climb, Mitsubishi - the presenting sponsor of this year's PPIHC - has unveiled its entrant for the race: the all-electric MiEV Evolution II. Building off last year's MiEV-inspired entrant, the Evolution II has received numerous improvements, including a more powerful electric drive system, a lower center of gravity and even a more traditional racecar look. Driving a pair of MiEV Evolution II models this year will be Hiroshi Masuoka from Mitsubishi vehicle development and six-time PPIHC motorcycle winner, Greg Tracy.
Both MiEV Evolution II racers employ a quartet of electric motors (last year's car used just three), and output has been increased from 280 kilowatts (375 horsepower) up to 400 KW (536 hp). For improved handling, the cars' lithium-ion battery packs help provide lower centers of gravity, and both Masuoka's and Tracy's cars have received active yaw control, stability control and redesigned anti-lock braking systems. Hopefully, this will help them stick to the mountain better. As previously mentioned, even their look has changed, with less of a wide-body i-MiEV feel and more of a racecar appearance. We think the finished product would actually make for a pretty cool Le Mans Prototype racer, or perhaps an electrically powered rival for trackday cars like those from Radical.

Ghosn out at Nissan, still in at Renault, still in jail in Tokyo and facing more charges

When the corporate jet carrying Renault- Nissan- Mitsubishi CEO Carlos Ghosn landed at Tokyo Haneda airport on November 19, Japanese authorities had already taken position on the tarmac, waiting for him. Police and authorities representing Tokyo prosecutor's office boarded the plane to query Ghosn about financial improprieties, and ended up taking Nissan's chairman and CEO into custody. A few days later, on November 22, Nissan's board voted to remove Ghosn from both positions for what it classified as "significant acts of misconduct." The charges include understating his income in filings to the Tokyo Stock Exchange by at least $44 million, and misusing company funds. Japanese police arrested Greg Kelly as well, the high-ranking Nissan exec said to have assisted Ghosn in the subterfuge. Ghosn and Kelly remain on Nissan's board until a shareholder vote is held to decide those positions. Kelly was Nissan's first American director, and the carmaker's former head of human resources. In France, Renault's board voted to keep Ghosn in his positions, and has requested details from Nissan about the alleged improprieties. The board put Thierry Bollore in the role of deputy CEO with all of Ghosn's powers while Ghosn is "incapacitated," and lead independent director Philippe Lagayette will act as temporary chairman. Nissan has since told Renault that it is investigating financial malfeasance at RNBV, the Amsterdam-based joint-venture company that oversees the alliance. Mitsubishi has watched from afar, only saying it will perform its own investigation, and could remove Ghosn. Tokyo police can hold a suspect for 72 hours for initial questioning without charges. With the deadline looming, Tokyo prosecutors asked the court for, and were granted, a ten-day extension. If they choose, prosecutors can request another ten-day extension. Within 23 days, however, prosecutors either need to charge Ghosn and Kelly, or release them. There are several charges that acquire more details by the day. The most serious accusation is that Ghosn understated his pay from 2011 to 2015 by half, claiming roughly $44 million in remuneration when he actually received around $88 million. Over the weekend, it came out that Japanese prosecutors could be working on new charges of Ghosn under-reporting his salary since 2015 by $27 million. A Japanese newspaper said Ghosn told Kelly in an email to lie on the financial statements.

Auditor had questioned Nissan on payments in Ghosn scandal, source says

TOKYO — Nissan's auditor had repeatedly questioned transactions at the heart of allegations of financial misconduct by former chief Carlos Ghosn, but Nissan said they were proper, a person with direct knowledge of the matter said on Wednesday. Ernst & Young ShinNihon LLC questioned Nissan's management several times, chiefly around 2013, about purchases of overseas luxury homes for Ghosn's personal use and of stock-appreciation rights that were conferred on him. But the Japanese automaker said the transactions and financial reporting were appropriate, the source told Reuters on condition of anonymity. The revelation shows Nissan and its auditor were discussing the transactions, in apparent contrast with Nissan's contention that the alleged misreporting of benefits for Ghosn was masterminded by Ghosn and a key lieutenant. A spokesman for EY ShinNihon, the Japanese affiliate of global accounting firm Ernst & Young, said he could not comment on specific cases. A Nissan spokesman declined to comment. Ghosn was arrested on Nov. 19 as he arrived in Japan. Prosecutors accuse him of falsifying Nissan's annual reports to understate by about half his total compensation of some 10 billion yen ($90 million) over several years. The high-profile former executive has denied the allegations, according to Japanese media. Ghosn remains in custody and is unable to speak publicly. He is represented by former prosecutor Motonari Otsuru, according to Japanese media. Otsuru's law firm declined to comment on Wednesday, and Otsuru has not responded to requests for comment. Nissan has largely pinned the blame on Ghosn and Greg Kelly, a former representative director who was arrested along with Ghosn on the same allegations. "As a result of the investigation, we are certain these two are the masterminds," CEO Hiroto Saikawa told a news conference on Nov. 19, referring to Ghosn and Kelly. He declined to say whether others at Nissan were involved in the alleged wrongdoing. An internal investigation is ongoing, and Nissan says it is cooperating with prosecutors. Nissan and Mitsubishi Motors have removed Ghosn as chairman in the wake of his arrest. The French member of the three-firm alliance, Renault, retains him as chairman and CEO.