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Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.

Mitsubishi and Renault-Nissan expand partnership, US will get new sedan

Mitsubishi and Renault-Nissan have just inked an alliance that might, hopefully, reverse the ailing fortunes of the Mitsubishi brand in the US market. The big chunk of news is that Mitsubishi will produce two Renualt-based models for sale in the US market, and that they'll be built at the Renault-Samsung factory in Busan, South Korea.
The plans call for a D-segment sedan to be followed by a C-segment offering. Based on the cars built at the Busan factory, that means Mitsubishi will be getting the SM5 and the SM3, a pair of handsome sedans that are based on Renault-Nissan's D and C platforms, respectively. These same platforms underpin a number of US market Nissans (not to mention a number of cars from Renault), namely the Pathfinder, Maxima, Quest and Murano for the D platform and the last-generation Rogue and Sentra for the C platform.
Besides the sedan production, Nissan and Mitsubishi will be expanding their joint-venture company, NMKV, which produces Kei cars for the Japanese market. A new, all-electric offering will be born from the partnership, likely based on a Kei car platform. The partnership between the three brands will also lead to increased sharing of technology, particularly relating to electric cars.

The Scoot Quad is Nissan's small step toward EV car sharing

Halfway up Laguna Street, the panic set in. I might not make it up this hill. With my foot depressed all the way to the floor, I sucked in my stomach and started to pray. Yet again, I found myself in an unconventional way to get around on four wheels – but this time, I was on my own, and behind the wheel. Meet the Scoot Quad, aka Nissan New Mobility Concept, aka Renault Twizy. The many aliases reflect the path of descent from its development as a quirky French electric vehicle to its proliferation as a model for car sharing. The Quad resides in San Francisco as part of the Scoot fleet of shared electric vehicles and it's most certainly not for sale. As the line blurs between those who share cars for personal reasons and those who use them for business purposes, Scoot and Nissan came to an agreement in which a small number of New Mobility Concepts would join the Scoot fleet – which currently includes over 300 motorbikes. The added value of Scoot is the capacity for one-way rentals around the city, as well as a dedicated network of charging stations. "We think it's just the best way to get around the city for everyone," said Scoot fleet vice president Mike Waltman, explaining how 10 New Mobility Concepts made their way to San Francisco. Charging time is about four hours on a Level Two charger, made possible through Scoot's network of stations around the city. The one-plus-one Twizy has been in production since 2012 and on sale in certain overseas markets, but it's entirely new for the United States, and it wears the Nissan badge here – kind of. No major changes were made to the Twizy when it became the New Mobility Concept, and similarly none were made in its "transformation" to the Quad. It sports the same insectile shape and the rear profile of a top hat, as well as an identical powertrain: a 13-kilowatt motor that produces 17 horsepower, routed to the rear wheels through a single-speed automatic transmission. Charging time is about four hours on a Level Two charger, made possible through Scoot's network of stations around the city. Its top speed is 50 miles per hour, but Nissan installed a governor at 25 mph to conform to US low-speed vehicle requirements. New Scoot members are required to successfully pass an exam before beginning to use the service, so that was my first order of business. After spending about 35 minutes going through a series of informational videos on the Scoot app, as any new member would do, I was ready to ride Scoot motorcycles.