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Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

Recharge Wrap-up: Nissan Leaf earns IHS Loyalty Award, people actually care about the environment

The Nissan Leaf has earned the IHS Automotive Loyalty Award. It won the award for best Non-Luxury Traditional Compact Car, and it is the only plug-in vehicle to earn the Loyalty Award. IHS Automotive analyzes loyalty and gives the award for vehicles that bring households back to buy the same make or model. "Our Leaf fans are some of the most loyal customers in the world, and we're thrilled to see that validated with this IHS award," says Toby Perry, marketing director for the Nissan Leaf. Read more at Hybrid Cars or in the press release below. A new study shows that environmental benefits could be more influential than money when purchasing EVs. The study, called "Altruism, Self-Interest, and Energy Consumption," found that subjects conserved more energy when reminded that it helps air pollution than when they were only told it would save them money. This is despite more subjects saying that they thought messages about money would be more influential at the beginning of the study. Researchers attributed the results to the dual benefit of clean air to oneself and to others. See the study at the PNAS website and read more at Green Car Reports. Group Bollore will receive government backing to build a nationwide EV charging network in France. The French conglomerate will spend $172 million to build 16,000 semi-fast chargers over the next four years. "Wherever you are on the map there will be at least one recharging point every 40 kilometres (25 miles)," says Bollore. The network will also provide wifi hotspots and carpooling services. Bollore's Blue Solutions division also already operates EV carsharing services and is working with Renault to build EVs in France. Read more at Reuters. Nissan LEAF only plug-in vehicle to receive 2014 IHS Automotive Loyalty Award NASHVILLE, Tenn. – Following a record-breaking sales year in 2014, the Nissan LEAF continues to earn praise and was named the best Non-Luxury Traditional Compact Car in the annual IHS Automotive Loyalty Awards. The all-electric LEAF – the only plug-in vehicle to be included in the IHS Awards – received this honor during the Automotive News World Congress at the North American International Auto Show in Detroit. The IHS Automotive Loyalty Awards are presented annually to automakers and brands that demonstrate a manufacturer's ability to retain owners over repeat buying cycles. They are the only fact-based awards of their kind in the industry.

Where the 2023 GMC Sierra AT4X fits into the hierarchy of off-road trucks

The world of off-road pickups sure seems like it's getting crowded, but the reality is that half-ton trucks were always pretty capable, even with what seemed like fairly basic 4x4 packages. It wasn't until recently that manufacturers really started to carve out different off-road niches for their mainstream pickup offerings. With the introduction of the 2022 GMC Sierra 1500 AT4X (alongside its mechanical twin, the Chevy Silverado ZR2), the crowd has grown even thicker. Even we have trouble keeping up with the increased segmentation of off-road pickup trucks, so we threw together this handy guide to help you understand just where these various packages fit into the broader pickup hierarchy. Let's dive in.  Your basics If we say "Z71" or "FX4" to you, both will probably ring a bell. That's because they've been around a few days short of forever and their respective customers have grown so used to these package codes that OEMs got into the habit of just plastering them on the side of so-equipped truck beds. Anybody who sells a pickup truck offers some sort of basic off-road prep package like this one. Z71 is found on GM vehicles; FX4 is Ford's. Ram just calls it "Off Road Group," but no matter what you call them, they're all pretty similar.  Typical upgrades for this category include some additional ground clearance, a basic all-terrain tire, heavy-duty suspension upgrades and likely either a limited-slip or locking rear differential. These are pretty handy for anything beyond a rutted dirt road. On newer trucks — especially on higher trim levels — you'll probably also get some dedicated off-road drive modes.  Mid-range This is where things start to get interesting. To qualify for this category, a locking rear differential is a must. Most of the names in this segment are well-established too, though some (Nissan Titan Pro-4X, anyone?) may not necessarily be on your radar. The Toyota Tundra TRD Pro checks in here, as does the Ram Rebel, Chevy Silverado Trail Boss and GMC Sierra AT4 (no X!).  Realistically, if there's somewhere you need to go and one of these trucks won't do it, you might want to consider a helicopter. But it's 2021, and our thirst for capability is strong, so of course, there's a way to spend more of your money on this type of thing. Onward! Entry-hardcore Here we are, the home of the new 2022 GMC Sierra AT4X and Chevrolet Silverado ZR2. This is a tiny niche, otherwise occupied only by the Ford F-150 Tremor.