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Carlos Ghosn: What misconduct is he accused of?

TOKYO — Japan was shocked by news that Nissan Motor Co. Chairman Carlos Ghosn, who was widely respected for rescuing the carmaker from near bankruptcy, was arrested on Monday for alleged financial misconduct. Nissan said that Ghosn, who is also chairman and CEO of Renault and chairman of Mitsubishi Motors, would be fired from his post as Nissan chairman on Thursday. What is Carlos Ghosn accused of? Nissan CEO Hiroto Saikawa told a packed press conference on Monday night that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to the Tokyo Stock Exchange. Another board member, Greg Kelly, was also deeply involved in the misconduct, Nissan said. Saikawa said he couldn't elaborate as the cases are being investigated by prosecutors, who have declined to comment. Prosecutors said that Ghosn and Kelly conspired to understate Ghosn's compensation over five years starting in fiscal 2010 as being about half of the actual 9.998 billion yen ($88.9 million). Public broadcaster NHK said Nissan paid billions of yen to buy and renovate homes for Ghosn in Rio, Beirut, Paris and Amsterdam, citing unnamed sources. The properties had no business purpose and were not listed as benefits in TSE filings, NHK said. Ghosn, 64, has not been formally charged. The Asahi newspaper reported that he and Kelly had submitted to prosecutors' questions after getting off a plane on Monday afternoon at Tokyo's Haneda Airport. Saikawa confirmed they had been arrested. Ghosn and Kelly have not been seen since, and their exact whereabouts are not known. Suspects are typically taken to the Tokyo Detention Center, which is linked to the Tokyo District Public Prosecutors Office. How did this come to light? Nissan's Saikawa said Ghosn's alleged improprieties came to light through a whistleblower, after which the company began an internal investigation and informed prosecutors. Japanese media reports say the informant is a member of Nissan's legal department. The Asahi reported, without citing sources, that the informant gave the prosecutors information in a plea bargain, implying the person may have provided evidence in exchange for a lighter sentence. How much control did Carlos Ghosn have? After becoming CEO of struggling Nissan in 2001, Ghosn was hailed as the automaker's savior by implementing an aggressive cost-cutting plan.

Takata adds millions to recall expansion in US [UPDATE]

UPDATE: Ford spokesperson Kelli Felker has advised Autoblog that of the 1,509,535 total vehicles worldwide that the company is recalling, 966,504 of them are new additions for this expanded safety campaign. Last week, the National Highway Traffic Safety Administration announced that the Takata airbag inflator recalls would expand to an estimated 33.8 million vehicles in the US. However at the time, automakers weren't sure specifically which of their models might be affected under this enlarged campaign. Now, the numbers for BMW, FCA, Ford, and Mitsubishi are being released by the agency. Additionally, Honda is outlining the broadening of its own campaign. BMW's recall amounts to 420,661 vehicles in the US, an increase from 140,696 previously. All of the following models need their front, driver's side airbag replaced: 2002-2005 BMW 325i/325xi/330i/330xi Sedan 2002-2005 BMW 325xi/325i Sportswagon 2002-2006 BMW 330Ci/325Ci/M3 Convertible 2002-2006 BMW 325i/330i/M3 Coupe 2002-2003 BMW M5/540i/525i/530i Sedan 2002-2003 BMW 540i/525i Sportswagon 2003-2004 BMW X5 3.0i/4.4i BMW has received no reports of any injures or deaths from this problem in its vehicles. FCA has 5,224,845 vehicles globally in need of inflator replacements, according to its statement. However, the company is only aware of one injury related to the issue, which occurred in a 2006 Dodge Charger in southern Florida. There are 4,747,202 vehicles worldwide from the company that are affected on the front, driver's side. Among these, 4,066,732 are in the US, 374,508 are in Canada, and the rest are in other countries. The models are: 2005-2009 Dodge Ram 2500 Pickup 2004-2008 Dodge Ram 1500 Pickup 2006-2009 Dodge Ram 3500 Pickup 2007-2009 Dodge Ram 3500 Cab Chassis 2008-2010 Dodge Ram 4500/5500 Cab Chassis 2008-2009 Sterling 4500/5500 Cab Chassis 2004-2008 Dodge Durango 2007-2008 Chrysler Aspen 2005-2010 Chrysler 300/300C/SRT8 2005-2010 Dodge Charger/Magnum 2005-2011 Dodge Dakota 2006-2010 Mitsubishi Raider Also, there are 438,156 vehicles in the US, according to the NHTSA documents, that need their front passenger's side inflators replaced in the expansion of an earlier regional recall: 2003 Dodge Ram 1500 2003 Dodge Ram 2500 2003 Dodge Ram 3500 The total number of vehicles from Ford now covered under these campaigns stands at 1,509,535 worldwide. Of this total, there are 1,380,604 in the United States, 93,207 in Canada and 16,953 in Mexico.

Recharge Wrap-up: Indianapolis to switch 425 fleet vehicles to EVs, Chevy Corvette provides bat habitats

Indianapolis will deploy 425 battery electric and plug-in hybrid vehicles as part of its municipal fleet by 2016. The fleet will include such cars as the Nissan Leaf, Chevrolet Volt and Ford Fusion Energi. The city will also reduce its overall fleet by 100 vehicles. In all, the revised group - called the "Freedom Fleet" - will save $8.7 million and 2.2 million gallons of gasoline over 10 years. Read more at Hybrid Cars. EVs with longer range would make vehicle-to-home and vehicle-to-grid energy management systems more practical for the US. The idea of using EVs as energy storage for emergencies or times of high grid demand is currently being tested in Japan with Nissan's Leaf-to-Home system. The US is also interested in such capabilities, but the higher average energy use of American households would make larger batteries in EVs ideal for grid storage applications. Read more at Green Car Reports. LG Chem has broken ground on its EV battery plant in Nanjing, China. The factory, when constructed, will have a capacity of producing batteries for 100,000 cars per year according to the Korean company. The plant will supply batteries for Chinese automakers such as SAIC and Qoros. Construction is expected to be finished by the end of 2015 and LG Chem expects revenue of more than $933 million by 2020. Read more in the press release below. General Motors is using adhesive used in the Chevrolet Corvette Stingray to create habitat for threatened bat species. Artificial bat caves could help alleviate white-nose fungus that leads to diminished bat populations. Leftover adhesive is used to create stalactites in the artificial caves, allowing them more structure to hang from. GM has also provided Volt battery covers to create nesting habitats for bats, which eat harmful insects and help pollinate plants. See the videos and read more in the press release below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. LG Chem officially breaks ground for China EV battery plant Seoul, Korea - Oct 30, 2014 – LG Chem, Korea's leading manufacturer of advanced batteries, held a ground breaking ceremony for the construction of electric-car battery plant in Nanjing, China, to meet growing demand in the world's biggest car market.