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Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.

Lebanon may lift Ghosn's travel ban if files not received within 40 days

BEIRUT — Lebanon may lift a travel ban on ousted Nissan boss Carlos Ghosn if files pertaining to his case do not arrive from Japan within 40 days, caretaker justice minister Albert Serhan said in a statement on Friday. Ghosn fled Japan to Lebanon, his childhood home, last month as he awaited trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. His dramatic escape has raised tensions between Japan and Lebanon, where Ghosn slammed the Japanese justice system at a two-hour news conference on Wednesday, prompting Japan's Justice Minister to launch a rare and forceful public response. Lebanon has no extradition agreement with Japan. Serhan said in the statement that he had met with the Japanese ambassador to Lebanon and reaffirmed the importance of the relationship between the two countries. He also said that Ghosn's wife Carole will also be questioned by Lebanese prosecutors when authorities receive an Interpol notice for her. "Carole will be subject to the same procedures that were followed for (Carlos) when the red notice was received from Interpol." Tokyo prosecutors on Tuesday issued an arrest warrant for Carole for alleged perjury related to the misappropriation charge against her husband. A spokeswoman for Carole said that she had voluntarily returned to Japan nine months ago to answer prosecutors' questions and was free to go without any charges, adding that the warrant was "pathetic". A fair trial? Carlos GhosnÂ’s lawyer on Friday told JapanÂ’s government that the authorities had failed to arrange for a fair trial that respected universal rights. Francois Zimeray, French lawyer for Ghosn, said that it had been for JapanÂ’s prosecutors to prove GhosnÂ’s guilt, not for Ghosn to prove his innocence. “It belongs to the prosecution to prove guilt and not to the accused person to prove its innocence,” Zimeray said in a statement. Japanese Justice Minister Masako Mori launched a rare and forceful public takedown of auto executive-turned-fugitive Ghosn after he blasted the countryÂ’s legal system as allowing him “zero chance” of a fair trial as he sought to justify his escape to Beirut. Reporting by Hoda Monem, Dominique Vidalon and Richard Lough. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Government/Legal Nissan Renault Carlos Ghosn

Nissan sells 100,000 Leaf EVs worldwide

Nissan sold 22,610 Leaf electric vehicles in the US last year, but the bigger story (literally) is how the company is selling the EV around the world. After selling the 99,999th Leaf to a woman in Virginia, Nissan sold the 100,000th Leaf to a man named Brett Garner in the UK. For the record, it took Nissan just about three years and one month to reach that mark, since the first Leafs were sold in December 2010. On a global scale, Nissan says the Leaf has a 45 percent market share among all the electric vehicles available. The car is available in 35 countries, but the bulk - as of the end of December, 42,122 units - have been sold in the US. That 99,999th Leaf was sold to Amy Eichenberger, a project manager overseeing major capital investments for the University of Virginia in Charlottesville (pictured below). Garner owns a dental practice in Fareham. You can read their gushing quotes about their new EVs in the Nissan press releases below. If you add in all of the electric vehicles that Nissan and partner Renault have sold (90,000 as of March, the last time official numbers were available), then the 100,000 was topped a while ago. Of course, electric vehicles remain a small portion of Nissan's global sales. In fiscal 2012, Nissan sold 4.9 million vehicles around the world. Still, 100,000 Leafs out of 4.9 million cars is far better than zero. Nissan LEAF global sales reach 100,000 units Nissan LEAF is best-selling EV in history with 45% market share The 100,000th customer is a British dentist After revolutionizing passenger vehicle segment Nissan is electrifying LCVs with the e-NV200 YOKOHAMA, Japan (January 20, 2014) – The 100,000th all-electric Nissan LEAF is being bought by a customer in the United Kingdom. The Nissan LEAF, the world's first mass-produced zero emissions vehicle, remains the best-selling EV in history with a 45% market share. Since its launch in December 2010 Nissan has seen the pace of sales increase consistently and 2013 was a record year. The LEAF is now available to customers in 35 countries on four continents. In Norway, the Nissan LEAF topped sales charts, out-selling conventional gasoline powered vehicles in October 2013. The 100,000th Nissan LEAF customer is Dr. Brett Garner, the owner of a dental practice in Fareham in the UK. "I have chosen my Nissan LEAF because I am very interested in its running costs," Dr. Garner said. "The cost of ownership such as maintenance, insurance and charging also convinced my wife.