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Carlos Ghosn appears in court: 'I am wrongly accused'

TOKYO — Former Nissan Chairman Carlos Ghosn told a Tokyo court on Tuesday that he was innocent, defending his honor in his first public appearance since he was arrested on Nov. 19 and charged with false financial reporting. "Your honor, I am innocent of the accusations against me," Ghosn told the judge, speaking firmly and calmly as he read from a statement. "I am wrongfully accused." Prosecutors have charged Ghosn, who led a dramatic turnaround at the Japanese automaker over the past two decades, with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. They also say he is suspected of having Nissan temporarily take on his investment losses from the financial crisis. Seen for the first time since his November arrest, Ghosn was wearing a dark suit without a tie, and plastic slippers, and looked thinner and with gray hair. He rebutted the allegations against him point-by-point and said he had the option to leave Nissan but had decided to stay on. "A captain doesn't jump ship during a storm," he told the court in a strong voice. The veteran auto executive, a familiar face at the World Economic Forum and other elite gatherings, was handcuffed and led into the courtroom with a rope around his waist as the hearing began. Officers uncuffed him and seated him on a bench. Presiding judge Yuichi Tada then read out the charges and said Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, was considered a flight risk — he was arrested on his arrival in Tokyo by private jet — and might try to hide evidence. In Japan, suspects are routinely held without bail, often due to fears about evidence tampering. During Tuesday's hearing, Go Kondo, one of Ghosn's lawyers, argued he was not a flight risk. "He's widely known so it's difficult for him to escape. There is no risk that the suspect will destroy evidence," he said. Facing the courtroom, Ghosn spoke proudly of the automaker's — and his own — achievements, such as reviving iconic models like the GT-R and the Z, expanding operations in China, Russia, Brazil and India and pioneering electric cars and autonomous driving. "I have a genuine love and appreciation for Nissan," he said. Ghosn has been held in spartan conditions at a Tokyo detention facility since he was taken into custody. In keeping with Japanese regulations, he has been allowed visits only from his lawyers and consular officials.

Mitsubishi Outlander PHEV arrives in UK with 'no' price premium

For UK buyers who are interested in a plug-in hybrid SUV, the Mitsubishi Outlander PHEV just got a little bit sweeter. The reason is that the base model of the vehicle will be available with or without a plug for the same price at the base diesel model. "If it's not going to save people money, they won't buy it" - Mitsubishi UK's Lance Bradley According to Cars UK, the price for the Outlander PHEV will be GBP28,249 (about $47,000 US) after a government grant of GBP5,000. In other words, the plug-in SUV actually costs GBP33,249 ($55,000) but thanks to pro-EV regulations, buyers can choose the powertrain they want, not the one they can afford. The managing director of Mitsubishi UK, Lance Bradley, told BusinessCar that it just makes sense to price the two vehicles at the same level. "There are some clever cars in the market but they're all too expensive," he said. "There should be a clear cost benefit because if it's not going to save people money, they won't buy it. The Outlander PHEV has an all-electric range of 32 miles, a top speed of 75 miles per hour in EV mode and a towing capacity of over 3,000 pounds. The SUV invades Britain in May and is scheduled to arrive in the US in 2015. Mitsubishi Motors North America's Melvin Bautista told AutoblogGreen that the UK price equivalence doesn't mean anything for the US, and that the company hasn't even begun the pricing for the vehicle in the US. The way the vehicles are packaged in the UK is also be different than how things work in the US, so we can't read anything into the UK price. Another factor is that, at the time when the PHEV launches in the US, the standard gasoline version will be undergoing a light facelift, which will also be applied to the PHEV model. This isn't the first time an alternative-fuel powertrain vehicle has cost the same as the old-fashioned gas model. The 2013 Lincoln MKZ could be had with a 2.0-liter hybrid or a 2.0-liter turbocharged EcoBoost four-cylinder for the same price.

Mitsubishi dealers would really like a truck to sell

While Mitsubishi is switching gears to focus on crossovers, that won't address a market that its dealers would like to be in. While answering questions from the press last night, Don Swearingen, executive vice president and COO of Mitsubishi's North American office, mentioned that its US dealers have a pickup truck high on their "shopping lists." In fact, he said that a truck is pretty much at the top. Mitsubishi does already have a small pickup truck it sells in foreign markets, badged as the Triton or L200. However, Swearingen said that just because dealers want a truck doesn't mean it's going to happen, citing various obstacles to bringing one to market. If, for example, Mitsubishi brought over the Triton, the company would have to go through the long, expensive process of certifying it for US safety and emissions regulations, not to mention making sure it fulfilled American buyers' demands. There's also the Chicken Tax, which levees a steep tariff on trucks built outside of the US and imported in. One possible way Mitsubishi could circumvent all of those issues, though, would be to leverage its new partnership with Nissan. Nissan already sells Frontier small pickups in the US, and Mitsubishi could simply redesign that model to suit its style. It's something that both companies are familiar with as well. Mitsubishi previously sold a restyled Dodge Dakota as the Raider, and Nissan allowed Suzuki to rebrand the Frontier to be sold as the Equator for a short time. It would certainly be a quick way to get into the truck market. However, Mitsubishi would also need to decide if such a product would actually be profitable, in addition to satisfying dealers. Related Video: