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Macron and Abe seek to avert messy Renault-Nissan breakup

TOKYO/PARIS – France and Japan's leaders met for bilateral talks to avert a diplomatic row over the Renault-Nissan-Mitsubishi alliance on Friday following the surprise arrest of its Chairman Carlos Ghosn in Japan. With the carmaking alliance facing its biggest test after the ousting of Ghosn at Nissan and affiliate Mitsubishi over financial misconduct allegations, President Emmanuel Macron sat down with Prime Minister Shinzo Abe at the G20 summit in Buenos Aires. Ghosn's arrest to face accusations including the under-reporting of income has triggered new attempts by Nissan to weaken Renault's control of the Franco-Japanese alliance, adding to challenges facing Macron at home. Macron, whose government has repeatedly pressed Japan to share evidence unearthed by Nissan's internal investigation into Ghosn, "restated his firm wish that the alliance should be preserved, along with the stability of the group," an Elysee official said after Friday's meeting with Abe. Abe said it was important to "maintain a stable relationship," according to a spokesman for the Japanese leader. "However, he said the future of the alliance is up to the private-sector shareholders. The government of Japan does not prejudge the future of the alliance," the spokesman said. The French official quoted Abe as telling Macron that "the legal process must be allowed to take its course." LEADERLESS Tokyo authorities on Friday extended Ghosn's detention for a second time, by the maximum-allowed 10 days, local media reported. Prosecutors must file charges by Dec. 10 or arrest Ghosn for new crimes to hold him beyond that date. Tokyo prosecutors declined to comment. Nissan did not immediately respond to a request for comment. Ghosn's detention has left the global auto alliance without its leader and main interlocutor with the French government, which owns 15 percent of Renault and wants to maintain the ownership structure enshrining its control of the partnership. But Nissan Chief Executive Hiroto Saikawa has made clear that Nissan wants to weaken the control of its smaller parent as it carries out a governance review. Renault's 43.4 percent Nissan stake ensures an effective voting majority at shareholder meetings, while Nissan's reciprocal 15 percent Renault holding carries no voting rights.

2014 Nissan Frontier Diesel Mule [w/poll]

Last August, Nissan shook the truck world when it officially announced plans to source a diesel option from Cummins for its long-overdue Titan replacement, its full-size pickup that's slated to drop this January at the Detroit Auto Show. The 5.0-liter V8 turbodiesel is expected to make somewhere around 300 horsepower and north of 500 pound-feet of torque. This combination of an all-new truck with this new powerplant promises to dramatically change the competitive landscape, splitting the difference between the heavy-duty goliaths from the Detroit Three and the Ram 1500 Ecodiesel. And the intrigue moved a step further when the Frontier Diesel Runner Concept showed up at February's Chicago Auto Show, as it displayed a growing relationship between Nissan and Cummins in a very interesting potential future product.
That concept would melt its clear acrylic hood if the engine ran too long, but this month, we got a chance to test drive a production mule, an otherwise normal Frontier with a Cummins 2.8-liter diesel four-pot under the hood and a ZF eight-speed automatic changing gears. The powertrain figures to be a direct competitor to the 2.8-liter Duramax promised for General Motors' Chevrolet Colorado and GMC Canyon twins, but will Nissan build it? All signs point to probably. Officially, Nissan is taking no position on the future of this program, but a concept followed by putting journalists into a test mule suggests the company is considering the option very seriously. Here's what we gleaned from a brief drive around the posh suburbs of Nashville:
Before we get too deep into this Quick Spin, realize this Frontier is absolutely a mule, not a prototype. More or less cobbled together with duct tape and baling wire, it's not meant to be representative of a finished product, or even a started product. The transmission and shifter is straight out of a Chrysler 300 and the shifter surround is cut out of a panel of plastic. The "Low Sulfur Diesel Only" sticker is, well, just stuck on. We're looking at a "What if?" mockup.

Ghosn's first jail interview: I was the victim of 'plot and treason'

TOKYO — Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to "plot and treason" to disrupt them and were behind the financial misconduct allegations against him. Speaking to the Nikkei newspaper in his first media interview since his arrest on Nov. 19, Ghosn said he had discussed plans to integrate the companies with Nissan CEO Hiroto Saikawa in September. But Nissan executives employed "plot and treason" to uproot those plans, Ghosn said. Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation. He remains in detention following his arrest and indictment on charges related to breach of trust and understating his salary. His arrest has clouded the outlook for closer ties between Nissan and Renault, along with Mitsubishi Motors Corp, the third member of the automaking alliance Since his arrest, Saikawa has said it was not the time to discuss revising the partners' complex capital ties. Nissan and Mitsubishi Motors have dismissed Ghosn as chairman, while he has resigned from the helm at Renault. Ghosn denied accusations of improper payments to a company run by a Saudi businessman, saying the payment had been approved by a Nissan executive. Ghosn also called accusations by both Nissan and Mitsubishi that he received nearly 8 million euros in improper payment through a Dutch-based joint venture of the two automakers "a distortion of reality," and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan's legal department. Nissan has said it was not aware that it had paid for many of Ghosn's properties. On Wednesday, a spokesman said that the company was unable to comment on Ghosn's legal defense. Ghosn, in the 20-minute interview, denied that his tenure at Nissan had been a "dictatorship." "People translated strong leadership to dictator, to distort reality" for the "purpose of getting rid of me," he said. Ghosn added that his health was fine, and that he wouldn't flee if freed on bail. Meanwhile, NHK reported that Saikawa plans to hold his first face-to-face discussion with new Renault Chairman Jean-Dominique Senard on the sidelines of an alliance meeting in the Netherlands on Thursday.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.