BEIRUT (Reuters) — Nissan ex-boss Carlos Ghosn will hold a news conference in Beirut on Jan. 8, a lawyer for Ghosn said on Wednesday, two days after abruptly arriving from Japan, where he was under house arrest and accused of financial misconduct. The circumstances surrounding Ghosn’s escape from Tokyo remain mysterious. Go to Source
Author: Nikki News Feed
‘No time left:’ Nissan No. 3 Seki explains decision to bolt
TOKYO — Nissan Motor‘s vice chief operating officer said he chose to leave the carmaker — where he was promoted to No. 3 just this month — for a position at Japanese motor maker Nidec in part because the clock is winding down for him. “I’m 58 years old, so there’s no time left,” Jun… Continue reading ‘No time left:’ Nissan No. 3 Seki explains decision to bolt
Toyota fined $12m in China for telling Lexus dealers not to discount
GUANGZHOU — Toyota Motor was slapped with a fine of 87.61 million yuan ($12.5 million) for pressuring dealerships to curb discounts on its Lexus luxury car brand, Chinese authorities said Friday. The Japanese automaker’s Chinese arm received the penalty for violating antitrust law between 2015 and 2018, according to the State Administration for Market Regulation. The fine totals 2% of Toyota’s… Continue reading Toyota fined $12m in China for telling Lexus dealers not to discount
Mitsubishi to phase out diesel vehicles
TOKYO — Mitsubishi Motors has decided to stop developing new diesel engines, Nikkei has learned. The Japanese automaker will eliminate diesel versions of its key car models by the end of 2021 and significantly reduce the size of its existing diesel vehicle business. Diesel engine vehicles are falling out of favor, especially in Europe, with… Continue reading Mitsubishi to phase out diesel vehicles
Nidec’s charismatic founder still in search for a successor
TOKYO — Japanese motor maker Nidec is to hire Jun Seki, the vice chief operating officer at Nissan Motor, as a potential candidate for president. Seki is the third outside executive recruited by Shigenobu Nagamori, Nidec’s chairman and chief executive, as a candidate for the position. Like Masayoshi Son, SoftBank Group’s president and chief executive, and Tadashi Yanai, president and… Continue reading Nidec’s charismatic founder still in search for a successor
Marubeni invests in China EV startup Byton for old batteries
TOKYO — Japanese trading house Marubeni has formed a capital partnership with Chinese electric vehicle company Byton, the latest move in a global race to secure used automotive batteries for recycling as energy storage units serving homes and other applications, Nikkei has learned. Marubeni is expected to devote several million dollars to the partnership, with… Continue reading Marubeni invests in China EV startup Byton for old batteries
Nissan’s new No. 3 Seki jumps ship to Nidec
TOKYO — Nissan Motor‘s turnaround efforts suffered a heavy blow as Jun Seki, who assumed one of the automaker’s three new leadership posts just a month ago, will leave the company to join Japanese motor maker Nidec as early as February, Nikkei learned on Tuesday. Seki is seen as a potential candidate to become Nidec’s… Continue reading Nissan’s new No. 3 Seki jumps ship to Nidec
‘Toyota Inside’ strategy kicks off in China with fuel cells
BEIJING — Toyota Motor has begun supplying key components for fuel cell vehicles to other companies in China, seeking to emulate the way Intel came to dominate the microprocessor business as Taiwanese players built personal computers using its chips. Components being provided by the Japanese automaker include fuel cell stacks, which generate electricity through the… Continue reading ‘Toyota Inside’ strategy kicks off in China with fuel cells
Mazda shifts Thai SUV production to Japan as baht soars
TOKYO — Mazda Motor will review its production footprint in Thailand, Southeast Asia’s top automotive hub, and move the assembly of some models to Japan, as the automaker combats the continued appreciation of the baht against key currencies. Mazda will relocate the production of CX-3 sport utility vehicles meant for the Australia market to a factory in the western… Continue reading Mazda shifts Thai SUV production to Japan as baht soars
Indian automaker Mahindra unveils top management reshuffle
MUMBAI (NewsRise) — Mahindra and Mahindra unveiled a top-level management reshuffle, aimed at grooming the next level of leadership that will have its task cut out: steer the company out of one of the worst-ever downturns gripping the Indian automobile market. Pawan Goenka, who is currently the managing director, has been given the additional responsibility… Continue reading Indian automaker Mahindra unveils top management reshuffle