Archive for the ‘Nissan’ Category

Ghosn’s Lawyer Blasts Japanese Prosecutors, Nissan

“This should have been dealt with as an internal matter,” says lawyer known as “The Razor.”

by on Feb.20, 2019

Former Nissan Renault CEO Carlos Ghosn's new lawyer is ready to shake up his defense efforts.

Ousted Nissan Chairman Carlos Ghosn’s new lawyer hasn’t wasted any time going on the offensive, calling out not only the automaker that has accused the former exec of financial misdeeds, but also the prosecutors who have refused to release Ghosn on bail after three months in detention.

The 64-year-old Ghosn was arrested on Nov. 19, shortly after his corporate jet landed at Tokyo’s Haneda Airport. He has been charged with several crimes, including the concealment of about $88 million in income. The allegations arose out of an internal investigation Nissan said was triggered by a whistleblower.

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“This should been dealt with as an internal matter,” Junichiro Hironaka said at a Wednesday media briefing in Tokyo. Hironaka is known as “the Razor” for his ability to help high-profile clients win acquittal in a country where prosecutors routinely win convictions in over 90% of their cases. (more…)

Honda Shutting Down Lone UK Auto Plant

Maker says Brexit not the reason, but move highlights problems.

by on Feb.19, 2019

Honda announced plans to close its manufacturing plant in Swindon. It means the loss of 3,500 jobs.

Honda will close its only auto plant in Great Britain in 2021 becoming the latest automaker to say it was leaving and turning what was once a trickle into a torrent of closures due to Brexit. The facility makes the Civic.

The Swindon plant closure means the loss of 3,500 jobs and a tenth of all vehicles produced in Britain. However, despite early reports, Honda officials claim Brexit had little to do with the move. Honda officials said the company was focusing manufacturing in the areas where it has the largest sales, and Europe isn’t one of those.

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“We had to consider the rise of electrified vehicles, and the different speeds at which electric vehicles will be taken up in North America and Europe,” said Honda Chief Executive Takahiro Hachigo. “This decision was not informed by Brexit.”  (more…)

Renault-Nissan-Mitsubishi Alliance Partnering With Google

Move marks beginning of post-Ghosn era.

by on Feb.18, 2019

The Renault-Nissan-Mitsubishi Alliance is making plans with Waymo to find ways to exploit the ever-changing mobility world.

The Renault-Nissan-Mitsubishi Alliance, which is preparing to hang together in the post-Ghosn era, plans to join Google’s camp for developing autonomous taxis and other services using self-driving vehicles.

The automakers intend to work with Waymo, a Google spinoff that is among the leaders in technology for self-driving cars. The companies are in the final phase of talks, and plan to announce the arrangement as early as spring, according to a Japanese news service.

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The partnership would unite a car alliance whose global sales totaled 10.8 million automobiles in 2018 with a developer whose self-driving vehicles have traveled more than 10 million miles on U.S. public roads as of October. Waymo has forged similar deals with Fiat Chrysler Automobiles and Jaguar Land Rover, but the Nissan-Renault-Mitsubishi alliance boasts greater scale. (more…)

Shake-Up and Setback for Ghosn

Former Nissan chief cuts legal team; likely to lose Renault payout.

by on Feb.13, 2019

Carlos Ghosn fired his legal team, replacing them with a lawyer known as "the razor."

Carlos Ghosn, the former Nissan chairman facing charges of financial corruption, has shaken up his legal team in an effort to reverse a series of setbacks that have resulted in his being held in solitary confinement in a Tokyo prison since last November.

Ghosn is replacing his lawyers with a new team led by a high-profile defense attorney known in Japan as “the razor,” for his ability to win acquittals in a number of high-profile cases. That’s relatively rare in Japan where prosecutors claim conviction rates of more than 90%.

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Separately, Renault is ready to scrap about $34 million in deferred pay and severance Ghosn stood to collect after tendering his resignation last month. Nissan’s French alliance partner is also expected to drop a two-year non-compete clause, which would free up Ghosn to join another automaker once released from Japanese prison, Reuters news service reported. (more…)

Ghosn Affair Hits Nissan’s Bottom Line, Along with Weak Sales

Automaker downgrades future earnings forecast.

by on Feb.12, 2019

Nissan is taking an $83.2 million charge against earnings due to the scandal surrounding Carlos Ghosn.

Nissan Motor Co. warned that its earnings for the fiscal year ending March 31, could be about the lowest the carmaker has seen in six years.

Nissan now expects to earn 410 billion yen, or $3.7 billion, for the fiscal year, a 45% year-over-year decline. It originally projected a 500 billion yen, or $4.5 billion profit.

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The second-largest of the Japanese automakers put most of the blame on sliding sales in the U.S. and China, its two largest markets. But it also revealed that it has logged an $83.2 million charge related to the scandal that began with the arrest last November of its former Chairman Carlos Ghosn. (more…)

Ghosn Reimbursing Renault €50,000 for Wedding Expenses

Former CEO said he didn't know Renault paid for Versailles chateau.

by on Feb.08, 2019

Carlos Ghosn is reimbursing Renault €50,000 for expenses related to his 2016 wedding.

Former Renault-Nissan-Mitsubishi Chairman and CEO Carlos Ghosn is reimbursing Renault €50,000 for a bill the automaker incurred for the use of a chateau at the Palace of Versailles for Ghosn’s lavish wedding in 2016.

Ghosn, who is being detained in Japan and being investigated by French automaker Renault for financial misdeeds, said he was unaware that use of the facility was paid for by Renault. He believed the use of the chateau was part of Renault’s donation to the estate.

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French newspaper Le Figaro reported that Versailles allowed Ghosn to host his 2016 wedding reception on the palace grounds in exchange for Renault’s €2.3 billion donation.  (more…)

Nissan Updates Rogue Sport for 2020

More technology and a more technical design.

by on Feb.07, 2019

The 2020 Nissan Rogue Sport gets a mid-cycle refresh on the exterior and interior.

Nissan is giving its Rogue Sport a more technical feel with the 2020 mid-cycle update, with updates to the crossover’s exterior and interior, along with the addition of new Safety Shield technologies.

Now in its second generation, the Rogue is “a critical vehicle” in the expanding Nissan crossover/SUV line-up, says Scott Shirley, vice president of marketing operations for Nissan North America, so what might seem like a modest mid-cycle update takes on significance for the Japanese automaker.

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“We’re committed to keeping our crossover/SUV portfolio fresh,” Shirley said, during the lead-up to the unveiling of the 2020 Rogue Sport at this week’s Chicago Auto Show media preview.

(more…)

Nissan Tweaks Pathfinder with New Rock Creek Package

New offering adds to functionality, performance of SUV.

by on Feb.05, 2019

Nissan is looking to generate a little excitement with its new Rock Creek package for the Pathfinder.

Looking to generate a little excitement, Nissan is showing off its new Pathfinder Rock Creek Edition — a special package of exterior and interior add-ons designed to “emphasize” the ute’s rough-and-tumble heritage.

The new package, which goes on sale this spring for $995, can be had in seven different exterior colors on the SV and SL trim levels in two-wheel and all-wheel drive configurations, officials noted.

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“The Rock Creek Edition name was chosen to connect to Pathfinder’s family outdoor adventure-minded target customers,” said Scott Shirley, vice president, CMM & Marketing Operations, Nissan North America, Inc.  (more…)

Nissan Shifts SUV Production From England to Japan Due to Brexit

Maker cites "uncertainties" in marketplace.

by on Feb.04, 2019

Nissan is moving production of the X-Trail from its plant in Sunderland, England, to Japan due to Brexit issues.

Nissan has confirmed it is shifting production of the X-Trail sport-utility vehicle from its big plant in Sunderland, England, to Japan.

In a letter to workers, it said continued Brexit uncertainty is not helping firms to “plan for the future,” according to the BBC. In 2016, the then-Nissan Chairman Carlos Ghosn said the company would build the new model in the UK after “assurances” from the government, the BBC said.

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Unions described the news as “disappointing” and said they were “seriously concerned.” (more…)

“Plot and Treason” Brought Down Ghosn, Jailed Execs Claims

Former Nissan chairman said claims were concocted for “purpose of getting rid of me.”

by on Jan.30, 2019

Former Renault-Nissan Chief Carlos Ghosn said his arrest and detention is due to "plot and treason."

“Plot and treason get the blame” for the arrest of Nissan’s former chairman Carlos Ghosn, the 64-year-old executive said during his first public comments since being dragged off his corporate jet on Nov. 19.

Ghosn has been held in solitary confinement ever since and looked gaunt during a court hearing earlier this month. Japanese prosecutors have successfully argued against bail for the exec, even though co-defendant Greg Kelly was released on Christmas Day.

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Until now, Ghosn has only been allowed to meet with his lawyers, embassy officials and prosecutors who were interrogating him daily and trying to get him to sign a confession written in Japanese, a language Ghosn does not speak. (more…)

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