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Recharge Wrap-up: Uber drops rates in NYC, Renault Zoes for Rungis, Nissan Leaf is recycled

Uber is really taking it to cabbies in New York City. The car-hailing smartphone app has temporarily cut rates to its lowest-cost UberX service by 20 percent, now making it much more competitive - even cheaper in many cases - to request a ride from the app than to hail a NYC taxi. Also, tip is included in Uber's rate, while yellow cab fares do not include tip. However, Uber's rates vary depending on certain variables such as traffic and demand. Uber has been the target of protests by cabbies in other cities, but the NYC Taxi and Limousine Commission seems confident about the competition for the time being. Read more at CNN Money. Formula E is officially partnering with the Prince Albert II of Monaco Foundation, an environmental charity organization focused on climate change, clean energy, biodiversity and water management. Formula E will host fundraising activities during its events to benefit the foundation, as well as its other charity partner, One Drop. The Prince of Monaco, besides his passion for environmental issues, is also an automotive enthusiast with a massive car collection, so the all-electric race series seems like a perfect fit for his organization. Read more at Formula E's website. Semmaris has purchased a fleet of seven Renault Zoe electric cars for its Rungis International Market outside of Paris. The fleet is part of an effort to reduce the market's carbon footprint, as well as as part of an awareness campaign for clean technology. Rungis Market is a destination for some 25,000 customers, many of whom run businesses (especially restaurants) and travel to Rungis for supplies, the sort of trip for which electric vehicles make a lot of sense. The market will also install charging stations, and create an electric carsharing service for use on its campus. Read more about the program in the press release below. The Nissan Leaf has reduced CO2 emissions by 151,000 tons, but its green cred also extends to recycling. About 25 percent of the Nissan Leaf - or about 827 pounds of the car - is made from recycled materials. Those materials include metals such as copper, steel and aluminum, as well as plastics and fabrics. The body uses recycled metals, the seat fabric uses recycled PET from plastic bottles, sound insulation comes from recycled clothing and the center console is made from recycled electronics. Even some of the recycled materials get recycled.

Carlos Ghosn, the cost cutter who cost a lot in compensation

PARIS — In his 40 years in the auto industry, the praise Carlos Ghosn has won for turning around businesses has regularly been matched by criticism over the amount he has been paid to do it. In the latest furore over his finances, Japan's Nissan Motor Co said on Monday it planned to oust Ghosn as chairman after alleging he had made personal use of company assets, among other acts of suspected misconduct. The scandal comes just five months after the 64-year-old head of the Renault-Nissan alliance narrowly won a shareholder vote at Renault over his 7.4 million euro ($8.5 million) pay package for 2017, after losing a 2016 vote. Brazilian-born, of Lebanese descent and a French citizen, Ghosn began his career in 1978 at tire maker Michelin, before moving to Renault in 1996, where he oversaw a turnaround at the French automaker that won him the nickname "Le Cost Killer." After Renault sealed an alliance with Nissan in 1999, Ghosn used similar methods to revive the ailing Japanese brand, leading to "business superstar" status in Japan, blanket media coverage and even a manga comic book on his life. As auto markets in western Europe and Japan struggled, Ghosn championed a cheap car for the masses in emerging markets and embraced the electric vehicle before many others. He also never made it a secret that he believed there were too many carmakers in the world and consolidation would continue — in 2016 he added Japan's Mitsubishi Motors to the alliance. But in recent months, attention has increasingly turned to how the complex web of cross-shareholdings between the alliance partners might be simplified to ensure it can thrive following the eventual departure of its main architect. In March, sources close to the matter told Reuters the alliance partners were discussing plans for a closer tie-up in which Nissan would acquire the bulk of the French state's 15 percent stake in Renault. With Japan's Yomiuri newspaper reporting on Monday that Ghosn had been arrested by Tokyo prosecutors on suspicion of under-reporting his salary, the alliance's plans for the future just got more pressing.Writing by Mark PotterRelated Video: Earnings/Financials Plants/Manufacturing Nissan Renault

Nissan, least profitable Japanese automaker in Q3, stays strong on EVs

Nissan had some not-so-good financial news to report today. Despite a 57-percent net income increase, Nissan was Japan's least-profitable carmaker for the third quarter of last year. A weak yen helped put the company's operating profit below the estimates of financial analysts. In a speech on the financial situation, Nissan corporate vice president Joji Tagawa said "These results, however, do not reflect the full potential of Nissan." Given our focus on expensive electric vehicles, among other things, we wondered how this might affect EVs. One of the financial analysts told Bloomberg that the news is a "crisis" at the company, but the official word is that things are steady as she goes on the EV front. In his speech, Tagawa reaffirmed the company's strong belief in plug-in vehicles, saying that "Nissan's EV strategy will accelerate with the launch in fiscal 2014 of the e-NV200, the second all-electric model available globally." That electric van has the potential "to transform emissions among commercial vehicles" and Nissan remains interested in initiatives such as EV carsharing in Japan and the continued deployment of charging infrastructure. The speech transcript is available below. In a statement to AutoblogGreen, Billy Hayes, Nissan's vice president and program director, said that, "Nissan considers zero emission vehicles to be the ultimate solution for realizing sustainable mobility in the future and is strongly committed to EV technologies. Nissan's investment in Leaf and EV technology is positive for the company's business results over the lifecycle, and accelerating sales of Leaf only help to build economies of scale and improve the business model for the technology further." FY13 3Q financial results Nissan Motor Co., Ltd. Joji Tagawa, Corporate Vice President Introduction For the nine-month period, Nissan has made solid progress to improve its business performance. The pro forma nine-month financial results, and particularly those of the third quarter, are up compared to the same period last year, despite intense competition and uncertain economic conditions. These results, however, do not reflect the full potential of Nissan. Looking ahead to the quarter ending March 31, 2014, we expect to continue to improve our business results and as such, we are maintaining our prior profit outlook for the fiscal year.