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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.

Nissan bringing GT-R LM Nismo back to WEC

Things didn't go exactly as planned when Nissan entered Le Mans this year with the GT-R LM Nismo. First years of a new racing program seldom do. But the radical front-drive LMP1 prototype performed so poorly that it looked for a while like Nissan would scrap the program altogether. Fortunately, however, the Japanese automaker has announced that the GT-R LM Nismo it is coming back. Several changes are afoot for next season. For starters, while the prototype only competed in the 24 Hours of Le Mans this year, Nissan says it "will return to race in the FIA World Endurance Championship in 2016" – of which Le Mans is just part. It isn't saying how many of the races it will contest, exactly, but the calendar currently consists of nine events: Silverstone, Spa, Le Mans, the Nurburgring, Mexico City, Texas, Fuji, Shanghai, and Bahrain. Hopefully we'll be seeing the Nissan team at all nine events, especially the one at the Circuit of the Americas in Austin, where it can be seen undergoing testing in the fresh and massive image gallery above. Schedules aside, Nissan has appointed a new principal to run the team. Brought in "to share the heavy load on Ben Bowlby's shoulders" will be Mike Carcamo, who moves from his job at Nissan Mexico to serve as the WEC team principal. Outgoing principal Bowlby does, however, appear to be staying on in an as-yet undisclosed capacity. Finally, Nissan says that "multiple changes have been made to the car since Le Mans," and you can bet that's a huge understatement. We won't know what those changes constitute, exactly, but the automaker is certainly hoping that they'll prove enough to make the car competitive. In its debut at Le Mans this year, two of the three cars failed to finish, and the third wasn't classified since it didn't cover enough distance. Related Video: NISSAN GT-R LM NISMO TO MAKE RACING RETURN IN 2016 Nissan's innovative LM P1 racer to complete test programme before returning to WEC YOKOHAMA, JAPAN - 1 October 2015: Nissan today announced that the innovative Nissan GT-R LM NISMO will return to race in the FIA World Endurance Championship in 2016. The team has been working hard to address the technical issues faced at Le Mans in June and is in the middle of a comprehensive test and development programme to prepare the new car to race against the tough competition it faces in the LM P1 class.

'Nothing is blocking' Nissan alliance talks, says Renault chairman

TOKYO — Nothing is blocking discussions between Nissan and Renault over the future of their alliance and the two companies will have "important talks" on Tuesday and Wednesday, the French automaker's chairman said in Tokyo. Speaking at an event on Tuesday, Renault SA chairman Jean-Dominique Senard touted the Franco-Japanese alliance, which has been discussing ways to revamp the relationship. The companies had initially set Tuesday as a deadline to hammer out a deal. However, the discussions have taken longer than originally expected due to Nissan's concerns about how its intellectual property rights can be protected as Renault forges new ties with China's Geely, sources have told Reuters. Renault last week unveiled a sweeping overhaul of its businesses, saying it would set up a joint venture with Geely for gasoline engines and hybrid technology and spin off its electric vehicles unit next year. It wants Nissan to invest in the new electric unit. The companies are also renegotiating their equity ties, which currently see Renault owning a controlling 43% of Nissan and the Japanese company holding only a 15% non-voting stake in Renault. "Nothing is blocking" the discussions, he told reporters after the event, declining to say when the alliance members would reach a deal and adding "you will be informed on time." "As the chairman of this alliance, I've never lived such a warm atmosphere within the alliance and this bodes well for the future."   Green Mitsubishi Nissan Renault