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Japan court adds 10 more days to Ghosn's detention

A Japanese court on Sunday extended for 10 days the detention of ousted Nissan chairman Carlos Ghosn, who is facing new allegations of making the car maker shoulder $16.6 million in personal investment losses. The extension announced by the Tokyo District Court means Ghosn will remain in Tokyo's main detention center, where he has been confined since his arrest last month on initial allegations of financial misconduct. Ghosn was re-arrested on Friday based on suspicions that around October 2008 he shifted personal trades to Nissan to make it responsible for 1.85 billion yen ($16.6 million) in appraisal losses, prosecutors said. They said the move inflicted damage on Nissan by having it deposit a total of $14.7 million on four occasions between June 2009 and March 2012 into a related bank account. (Reporting by Daniel Leussink; editing by Darren Schuettler)Related Video: Government/Legal Hirings/Firings/Layoffs Nissan Renault

Tesla exec calls rival EVs 'little more than appliances'

Tesla's Vice President of Business Development Diarmuid O'Connell called the company's competition "little more than appliances" at the Center for Automotive Research's Management Briefing Seminars in Traverse City, MI yesterday. "In essence, [mainstream automakers] delivered little more than appliances," O' Connell said. "Now, appliances are useful. But they tend to be white. They tend to be unemotional." According to Automotive News, O'Connell's main critique is that vehicles like the Nissan Leaf and BMW i3 don't deliver enough performance or range to draw the attention of consumers outside of a small group. The solution, in O'Connell's mind, is more power, more range, more excitement and a lower price – that last point is particularly rich coming from an automaker whose cheapest current offering, the Model S 60, costs $66,000 – although the cheaper Model 3 is on the horizon, way out there, somewhere. But some EVs are better than none, O'Connell added. "On balance, I'm happier that [traditional automakers are] doing these cars than not," O'Connell said. "I just wish they would do them better and faster." O'Connell also used his appearance at the Management Briefing Seminars to launch a volley at the Michigan legislature, blaming its opposition to Tesla's direct-sales model for the lack of available EVs in the Wolverine State. "I think if the Michigan Legislature would allow Tesla to sell cars in Michigan, we could probably address [the lack of available electric cars]," O'Connell said. Related Video:

Carlos Ghosn to make first public appearance in seven weeks on Tuesday

Ousted Nissan chairman Carlos Ghosn is set to make his first public appearance in seven weeks at a Tokyo court on Tuesday after he requested an open hearing to hear the reason for his continued detention. Ghosn has been held in a detention center since his Nov. 19 arrest on allegations of financial misconduct, which was followed by re-arrests over further allegations. The hearing will take place at 10:30 local time (0130 GMT) on Jan. 8, the Tokyo District Court said on Friday. The reason behind the timing of Ghosn's request was not clear. Earlier this week, the court approved an extension to Ghosn's detention until Jan. 11, after re-arrest by prosecutors who accuse him of aggravated breach of trust in transferring personal investment losses to Nissan. Those allegations center on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, sources said last week. According to an article from The New York Times, Ghosn and his family assert that he is innocent. In remarks Ghosn made while under detention in Japan, he is reported to have said through his lawyer, "I want to have my position heard and restore my honor in court." Former Nissan executive Greg Kelly, who has been charged with conspiring to under-report Ghosn's income, has been released on bail after the court ruled against extending his detention while he awaits trial. Ghosn's arrest was followed by his removal from roles at Nissan and Mitsubishi. The case has rocked the auto industry and strained Nissan's ties with French partner Renault where Ghosn still remains chairman and chief executive. Renault has launched a search for an interim chief to fill Ghosn's roll at the French company as he deals with these legal cases in Japan. The arrest has also put some of the practices of Japan's criminal justice system under international scrutiny, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations. (Reuters contributed to this report.)Related Video: