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Nissan to enter Formula E in 2018-19 season

Nissan is to become the first Japanese car manufacturer competing in Formula E with an entry in the fifth season of the electric car racing series, organizers announced on Wednesday. Formula E said in a statement that Nissan would replace one of the existing manufacturers in the 2018-19 season. Media reports have indicated that will be alliance partners Renault, allowing the French manufacturer to focus on its Formula One team. "To have a name like Nissan coming on board is a momentous day for the series," said Formula E chief executive Alejandro Agag in a statement. "It's great to see our first Japanese manufacturer entering the frame, showing truly how global the electric revolution is. Japan is a country at the forefront of new technologies with one of the biggest followings of Formula E." Manufacturers already involved in the electric series include BMW, Audi, Renault, Jaguar, Citroen and India's Mahindra. Mercedes and Porsche are due to arrive for season six, which is scheduled to start in 2019 and end in 2020. Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.

Nissan's Ghosn called out by Deltawing's Panoz in print ad

When the Nissan ZEOD RC limped to the side of the Circuit de la Sarthe a mere five laps into this year's 24 Hours of Le Mans, we imagine that a certain American motorsports figure at least smirked a little. Don Panoz's ongoing feud with Nissan probably means he wasn't sorry to see the arrow-shaped racecar's poor showing, and now he's stepping up his campaign against his former racing partner.
For those who need a refresher, back in 2012, Panoz and Nissan teamed up to field the DeltaWing, an innovative, wedge-shaped racer, as the first entry in the 24 Hours of Le Mans' experimental Garage 56 concept. The car rapidly became a fan favorite. The Panoz/Nissan alliance didn't last, though, and before long, the DeltaWing's designer was getting a paycheck from Nissan and the ZEOD RC racer arrived. Shortly after that, Panoz began mulling over a lawsuit alleging intellectual property infringement. The American motorsports icon would eventually pull the trigger on a suit back in December of 2013.
Panoz's latest move in the ongoing feud involves an open letter in both The Nashville Tennessean, the paper that serves Nissan's US headquarters, and trade paper Automotive News. The letter calls out Renault-Nissan CEO Carlos Ghosn directly, and points out some of the similarities between the DeltaWing and the ZEOD RC, going so far as to quote the original car's designer, Ben Bowlby.