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Carlos Ghosn sues Nissan-Mitsubishi in the Netherlands

AMSTERDAM — Carlos Ghosn has launched a court case in the Netherlands against Japanese carmakers Nissan Motor and Mitsubishi Motors, who ousted him as chairman of their alliance last year on charges of embezzlement, Dutch newspaper NRC reported on Saturday. Ghosn is seeking 15 million euros ($16.8 million) in damages from the carmakers, as grave mistakes were made when he was sacked, NRC reported, citing his lawyer. "In the Netherlands, if you want to fire an executive you have to first tell him what he's being accused of, and you have to provide him with the evidence for the accusations. Neither of those things has happened," lawyer Laurens de Graaf told NRC. Ghosn fell from grace late last year when he was arrested in Japan and sacked by Nissan on charges of financial misconduct, which he denies. He has also been fired as the CEO and chairman of French carmaker Renault. Ghosn was freed in April from jail in Japan on a $4.5 million bail. Among other charges of fraud and misconduct, Nissan and Mitsubishi have said Ghosn improperly received $9 million in compensation from their joint venture. Suspect expenses Ghosn made when he chaired Renault and Nissan amounted to about 11 million euros, Renault's board said in June. Ghosn holds French, Lebanese and Brazilian citizenship, but opted for the fiscally more friendly Netherlands as his tax domicile in 2012. The holding company for the Nissan-Mitsubishi alliance is also incorporated in the Netherlands. The district court in Amsterdam is reviewing the case but has not set a trial date yet, NRC said. Government/Legal Hirings/Firings/Layoffs Mitsubishi Nissan Carlos Ghosn

Mitsubishi delays Outlander PHEV yet again for the US

Mitsubishi was so close this time. The company showed the US-spec version of the plug-in Outlander crossover at this year's New York auto show, with plans for it to go on sale in the summer or fall of 2016. But once again, the beleaguered green family hauler has been delayed. HybridCars learned from Mitusbishi public relations managers for both the US and Canada that the Outlander PHEV won't go on sale until next summer. No specific reasons for the delay were given outside of a need "to meet a level of competitiveness that will exceed customer expectations." While we hope for Mitsubishi's sake the company releases the best product it can make, we don't think the expectations of our market will be that high, since there are no plug-in hybrid SUVs in the Outlander's class and price range. Unfortunately delays have been a recurring problem for this model. We first thought it would arrive in 2014 after launching in Japan. But ever since the original announcement, problems including battery production issues and regulatory demands have prevented the Outlander PHEV's US introduction. In the meantime, Japan and Europe have had the crossover for a few years. The car has since been refreshed, and we were promised that updated model but no dice yet. HybridCars also points out that the Outlander PHEV has been the best-selling plug-in hybrid in Europe. We imagine it could be a major success here since it combines plug-in tech with the ever-popular crossover body style, but we won't know until next year. At least as long as it doesn't get delayed again. Related Video: News Source: HybridCARSImage Credit: Drew Phillips Green Mitsubishi Crossover Hybrid PHEV

Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault