Tag: Nissan

The revelations pile up against Carlos Ghosn

If Carlos Ghosn was again indicted last Friday, he was not arrested for the fourth time and his lawyers filed in the evening a request for release on bail to end his detention started November 19 latest. This procedure has since been examined by a Tokyo court judge who must consult the prosecutor before taking… Continue reading The revelations pile up against Carlos Ghosn

See Where Automaker’s Electric Car Investments Are Going

23 M BY WADE MALONE No one is shocked that China will see the largest slice of the pie. Over the next decade, automakers will be investing heavily in electric vehicle technologies. Reuters analyzed investment and procurement budgets announced by automakers over the past two years. According to Reuters, $300 billion is currently devoted to… Continue reading See Where Automaker’s Electric Car Investments Are Going

Nissan China chief Jose Munoz resigns amid broadened Ghosn probe

(Reuters) – Nissan Motor Co Ltd’s (7201.T) head of China operations Jose Munoz has resigned following reports that the Japanese automaker has broadened its investigation into ousted Chairman Carlos Ghosn’s alleged financial misconduct. FILE PHOTO: Jose Munoz, Chairman of Nissan North America, speaks during the North American International Auto Show in Detroit, Michigan, U.S., January… Continue reading Nissan China chief Jose Munoz resigns amid broadened Ghosn probe

GM is transforming Cadillac into an electric brand

General Motors is turning Cadillac into its lead electric vehicle brand in a bid to compete against Tesla as well as a host of other automakers bringing EVs onto the market. Plans are already underway to introduce the first model from the company’s new battery electric vehicle architecture, GM said Friday during an investor meeting.… Continue reading GM is transforming Cadillac into an electric brand

Renault finds no illegal payments to Carlos Ghosn in past two years

Carlos Ghosn Investigation will now examine payments made to former Nissan chairman before 2017 Carlos Ghosn remains in custody in Tokyo. Photograph: Régis Duvignau/Reuters Renault has said it has so far found no evidence of illegal or fraudulent payments to Carlos Ghosn, despite the chief executive of the French carmaker remaining under arrest in Japan.… Continue reading Renault finds no illegal payments to Carlos Ghosn in past two years

Nissan cancels lease on ex-Chairman Ghosn’s Tokyo apartment

Takashi Aoyama | Getty Images
Pedestrians walk past a big screen showing images of Former Nissan Motor Co. Chairman Carlos Ghosn in a news program on Jan. 8, 2019 in Tokyo, Japan.

Nissan Motor has terminated the lease to ex-Chairman Carlos Ghosn's luxury apartment in Tokyo, Ghosn's legal team said on Friday, as the Japanese automaker cuts ties with the executive following his arrest in November.

Nissan confirmed it had sent Ghosn's Japan-based legal team a termination notice on his residence in Azabu, one of Tokyo's priciest neighborhoods, on Monday, the latest step in ending its relationship with Ghosn, who is facing financial misconduct charges in Japan.

In the wake of Ghosn's arrest, the automaker is also planning to terminate other agreements under which it had been providing residences to Ghosn, a person with knowledge of the issue told Reuters, including the lease agreement on an apartment in Amsterdam.

In addition, it is no longer making payments on his residence in Paris, the person added on condition of anonymity due to the sensitivity of the matter.

Nissan was not immediately available to comment on the additional residences.

As chairman of Nissan, Renault and Mitsubishi Motors, the globe-trotting Ghosn had access to a string of residences around the world, including additional homes in Beirut and Rio de Janeiro.

Tokyo prosecutors are expected on Friday to indict Ghosn on two new financial misconduct charges, adding to his legal challenges. Ghosn has denied all of the allegations against him.

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Commute with Enterprise to Provide Vanpooling Options in South Carolina

Commute with Enterprise’s van pricing starts at $950 and will vary depending on vehicle selection.  Photo via Enterprise.  Provided by Commute with Enterprise, COMET Vanpool, a one-year pilot to subsidize 20 vans at $500 per month — not to exceed $120,000 per year — will be providing shared rides to residents in South Carolina’s Richland and… Continue reading Commute with Enterprise to Provide Vanpooling Options in South Carolina

Top Automotive Industry News for Week of December 17 – December 23, 2018

Here is the most important news associated with the automotive industry
identified by the AEA for the week of December 17, 2018 – December 23,
2018.

We hope it helps you stay up to speed on the key developments in our
industry:

-AEA Membership News-

The next AEA Members Reception will be held on Thursday January 24th,
2019 in San Francio. Invitations have been sent to all current AEA
Members. Annual AEA Member Dues renewal will occur on January 2 nd, 2019. If you have any questions, please contact
memberservices@automotiveexecutives.com

-Automotive Manufacturing News–Automotive Manufacturing News-

Carlos Ghosn vows to 'restore my honor' in first remarks since arrest

(autoblog)

Ford's New Truck-like Explorer SUV To Debut Jan. 9 Ahead Of Detroit
Auto Show

(Forbes)

General Motors hints it could negotiate a way to keep one or more
plants open

(CNBC)

German automakers BMW, Daimler stand to benefit the most if China cuts
US auto tariffs

(CNBC)

Ghosn Rearrested, Now Faces 20 Years in Prison

(Forbes)

GM gets thousands of holiday letters about plant closings

(Detroit Free Press)

IIHS Unveils Top Safety Pick Plus Models for 2019

(The Detroit Bureau)

In the Switch to Electric Vehicles, Expect a Few Giants to Crash

(Bloomberg)

Jeep Wrangler plant uses rotisserie to crank out SUVs

(Detroit Free Press)

Nissan to lay off 1,000 Mexican workers, citing market challenges

(autoblog)

Tesla Survived Manufacturing Hell–Now Comes The Hard Part

(Forbes)

UAW scandal sending union's ex-No. 2 in Fiat Chrysler Department to
prison

(Detroit Free Press)

-Automotive Evolution News-

Daimler, BMW Get U.S. Approval for Mobility Company

(The Detroit Bureau)

How electric cars are slowly moving from niche to something 'people
want to buy'

(CNBC)

Laser Vision Upstart Luminar Reveals Self-Driving Tech Alliance With
Audi's AID Unit

(Forbes)

NHTSA Moves to Accelerate Autonomous Vehicle Petitions

(The Detroit Bureau)

Self-driving bill hits dead end in U.S. Senate

(The Detroit News)

The Year Of The Scooter: The Good, The Bad, And The Road Ahead

(Forbes)

Uber's self-driving cars are back on the road, nine months after a
fatal accident

(CNBC)

Zoox Inc. Snags First California Permit To Transport Passengers In
Self-Driving Cars

(NPR)

-Automotive Retail News-

Beating Predictions, 2018 New Car Sales to Surpass 2017 Results

(The Detroit Bureau)

CarMax's stock drops after earnings beat, but used car sales miss

(MarketWatch)

Fed Raises Interest Rate, Lowers Growth Forecast

(Auto Dealer)

Shopping for a new car? Buy before the Fed rate hike affects car loans

(MarketWatch)

Study: Dealers Overspend on Marketing

(Auto Dealer)

U.S. auto sales seen falling 1% in December, say J.D. Power, LMC

(autoblog)

-Automotive Wholesale News-

Car Values at Auction Continue Decline at Year's End

(Vehicle Remarketing)

-Automotive Ownership News-

'Dramatic drops' in gas prices: Less-than-$2 gas is here for many
American motorists

(USA Today)

-Automotive Enthusiast News-

In a blatant attempt to pull at our heart strings, Chevrolet is
offering an in-car Santa tracker

(CNBC)

The most amazing classic car stories of 2018

(FOX News)

-Automotive Servicing News-

Citing Fire Danger Ford Recalls 410,000 Pickups

(Forbes)

Report: 16.7M faulty Takata air bags still on US roads

(The Detroit News)

The Biggest and Smallest Automotive Recalls of 2018

(Car and Driver)

Tesla Model S catches fire in California town: Fire Department

(CNBC)

-General Business & Executive News-

ACV Auctions continues rapid disruption of $100B wholesale automotive
industry

(PR Newswire)

Car rental company Fair raises $385 million in SoftBank-led funding
round

(Reuters)

CU Direct's credit union network leads in auto loan originations

(Automotive News)

The real problem with the American auto industry

(CNN)

U.S. third-quarter growth trimmed; business spending slowing

(Reuters)

-AEA Reminder-

Did we miss something? Let us know via our

Contact Us Page >>

. If you have specific important news going public soon that you would like
to share with your fellow AEA Members, submit your

PR Distribution Request >>

Have a great week,

Member Services

memberservices@automotiveexecutives.com

Automotive Executives Association

www.automotiveexecutives.com