With Carlos Ghosn's arrest, frustrations over the tycoon's management style have burst into the open within Nissan, with some staff also wary of playing second fiddle to Renault and its French-state backers.

Rumblings within Nissan have grown in intensity since the beginning of the year, analysts say, as the 64-year-old Brazil-born Frenchman appeared to be moving towards a complete merger with Renault that would be unpopular in the Japanese firm.

Renault is the dominant player in the alliance, owning 43 per cent of Nissan stock, but the Japanese firm now brings more turnover to the table -- only intensifying a power-struggle between the firms.

One former staff member who worked for Nissan for 10 years told AFP on condition of anonymity: "Internally, we felt the tensions, even if they didn't appear on the outside."

Some Nissan staff increasingly had the impression their hard-won profits were being used to prop up their French big brother.

For example, there was some resentment when the Nissan Micra was ordered to be built in a Renault factory just outside Paris or when the Nissan Rogue crossover destined for the US market was constructed by a South-Korean Renault subsidiary.&nbsp;

"Bringing services together is wonderful but in practice, it is not that easy. Renault and Nissan's people started saying that the integration Ghosn was leading us towards will not work," said the former employee.

Another staff member, speaking to public broadcaster NHK, was even blunter.&nbsp;

"I don't feel any merit to working with Renault. In my opinion, many Nissan employees feel they don't want to work with Renault," he said.

'Massive tellings-off'

Ghosn also drew fire with some in Japan for what was perceived as a lavish lifestyle and brash management style -- both of which run counter to Japanese corporate culture.

The staff member cited by NHK complained that Ghosn prohibited employees from receiving gifts or being wined and dined and that the former chairman had ordered them to submit a written pledge to this effect.

Another former employee told AFP that Ghosn put "incredible" pressure on his staff.

"He humiliated people in public all the time with massive tellings-off in front of everyone. No one could say anything but resentment grew."

Ghosn is under arrest on suspicion of understating his income by around $44 million over five years. He denies the allegations and has not been able to make any public defence as he languishes in a Tokyo detention centre.

Nissan CEO Hiroto Saikawa denounced his former mentor in an emotional press conference, saying that too much power had been concentrated in the hands of one person.

According to a Nissan insider, Saikawa has also raised concerns of governance within the three-way alliance, which was the top-selling auto group last year.

"No matter what subject we wanted to discuss with Renault, we always had to go through Ghosn," Saikawa told staff Monday, according to someone present.

This is an "uneven" situation that must be addressed, added Saikawa.

In many ways, Saikawa's shift in attitude towards Ghosn reflects the wider growing dissatisfaction within Nissan.

Known as one of "Ghosn's children" -- who owed his career to the tycoon -- Saikawa began to distance himself from his mentor in 2017, feeling that Ghosn had left him alone to deal with a vehicle inspection scandal that broke that year.

'Anger' at Renault

Adding to the tension is the involvement of the French government, which holds a 15-per cent stake in Renault.

"France wants Nissan," screamed a headline in the Nikkei business daily in July.

The Japanese firm was badly shaken in 2015 when Emmanuel Macron, then economy minister, raised Paris's stake in Renault to increase voting power.

Current French Economy Minister Bruno Le Maire has stressed that there should be no changes in the make-up of the alliance, which states that Renault appoints the boss.

Koji Endo, an auto sector analyst at SBI Securities, told AFP: "Emotionally, people at Nissan seem to be angry against Renault and Ghosn and they will probably claim there has to be some change in equity relationships."

However, moving towards a more equal relationship will be "very difficult... because of the influence of the French government," added the expert.

Nissan would have to convince Renault and Paris to boost the Japanese firm's stake in the alliance, he noted.

"I understand that Nissan wants to do that, but in reality, I don't think it can be done in a short period of time," he told AFP.

The official line is that the Ghosn arrest should not have an impact on the day-to-day operations either at Nissan or within the Alliance.

But another auto sector expert, Takaki Nakanishi, said the situation within the alliance was "serious."

"The confidence to work together has completely disappeared," said Nakanishi.

With Carlos Ghosn's arrest, frustrations over the tycoon's management style have burst into the open within Nissan, with some staff also wary of playing second fiddle to Renault and its French-state backers.

With Carlos Ghosn's arrest, frustrations over the tycoon's management style have burst into the open within Nissan, with some staff also wary of playing second fiddle to Renault and its French-state backers. Rumblings within Nissan have grown in intensity since the beginning of the year, analysts say, as the 64-year-old Brazil-born Frenchman appeared to be moving towards a complete merger with Renault that would be unpopular in the Japanese firm. Renault is the dominant player in the alliance, owning 43 per cent of Nissan stock, but the Japanese firm now brings more turnover to the table -- only intensifying a power-struggle between the firms. One former staff member who worked for Nissan for 10 years told AFP on condition of anonymity: "Internally, we felt the tensions, even if they didn't appear on the outside." Some Nissan staff increasingly had the impression their hard-won profits were being used to prop up their French big brother. For example, there was some resentment when the Nissan Micra was ordered to be built in a Renault factory just outside Paris or when the Nissan Rogue crossover destined for the US market was constructed by a South-Korean Renault subsidiary. "Bringing services together is wonderful but in practice, it is not that easy. Renault and Nissan's people started saying that the integration Ghosn was leading us towards will not work," said the former employee. Another staff member, speaking to public broadcaster NHK, was even blunter. "I don't feel any merit to working with Renault. In my opinion, many Nissan employees feel they don't want to work with Renault," he said. 'Massive tellings-off' Ghosn also drew fire with some in Japan for what was perceived as a lavish lifestyle and brash management style -- both of which run counter to Japanese corporate culture. The staff member cited by NHK complained that Ghosn prohibited employees from receiving gifts or being wined and dined and that the former chairman had ordered them to submit a written pledge to this effect. Another former employee told AFP that Ghosn put "incredible" pressure on his staff. "He humiliated people in public all the time with massive tellings-off in front of everyone. No one could say anything but resentment grew." Ghosn is under arrest on suspicion of understating his income by around $44 million over five years. He denies the allegations and has not been able to make any public defence as he languishes in a Tokyo detention centre. Nissan CEO Hiroto Saikawa denounced his former mentor in an emotional press conference, saying that too much power had been concentrated in the hands of one person. According to a Nissan insider, Saikawa has also raised concerns of governance within the three-way alliance, which was the top-selling auto group last year. "No matter what subject we wanted to discuss with Renault, we always had to go through Ghosn," Saikawa told staff Monday, according to someone present. This is an "uneven" situation that must be addressed, added Saikawa. In many ways, Saikawa's shift in attitude towards Ghosn reflects the wider growing dissatisfaction within Nissan. Known as one of "Ghosn's children" -- who owed his career to the tycoon -- Saikawa began to distance himself from his mentor in 2017, feeling that Ghosn had left him alone to deal with a vehicle inspection scandal that broke that year. 'Anger' at Renault Adding to the tension is the involvement of the French government, which holds a 15-per cent stake in Renault. "France wants Nissan," screamed a headline in the Nikkei business daily in July. The Japanese firm was badly shaken in 2015 when Emmanuel Macron, then economy minister, raised Paris's stake in Renault to increase voting power. Current French Economy Minister Bruno Le Maire has stressed that there should be no changes in the make-up of the alliance, which states that Renault appoints the boss. Koji Endo, an auto sector analyst at SBI Securities, told AFP: "Emotionally, people at Nissan seem to be angry against Renault and Ghosn and they will probably claim there has to be some change in equity relationships." However, moving towards a more equal relationship will be "very difficult... because of the influence of the French government," added the expert. Nissan would have to convince Renault and Paris to boost the Japanese firm's stake in the alliance, he noted. "I understand that Nissan wants to do that, but in reality, I don't think it can be done in a short period of time," he told AFP. The official line is that the Ghosn arrest should not have an impact on the day-to-day operations either at Nissan or within the Alliance. But another auto sector expert, Takaki Nakanishi, said the situation within the alliance was "serious." "The confidence to work together has completely disappeared," said Nakanishi.

Ghosn arrest lays bare frustration at Nissan

Top executives from Mitsubishi Motors gather on Monday to sack Carlos Ghosn as chairman over alleged financial misconduct that the once-revered tycoon denies, as further allegations leaked out against him.

At an emergency meeting in Tokyo, "it is to be proposed to the Board of Directors to promptly remove Ghosn from his position as... chairman," said the Japanese firm, the third company in the powerful alliance also involving Nissan and Renault.

Following his stunning arrest last Monday, the 64-year-old Brazil-born Frenchman began his second week in a Japanese detention centre facing allegations he under-reported his salary to the tune of $44 million over several years.

He has not been formally charged and denies the allegations, telling prosecutors he had no intention of under-declaring his compensation.

Fellow executive Greg Kelly, described as the mastermind behind the alleged misconduct, has also reportedly denied the allegations, stressing that his boss's compensation was paid in an appropriate fashion.

The board of Nissan decided unanimously on Thursday to oust Ghosn as chairman, a spectacular fall from grace for the dynamic businessman credited with turning around the firm's once-flagging fortunes by tying its fate to Renault.

The executives made their decision "based on the copious amount and compelling nature of the evidence of misconduct presented," said a company spokesman.

According to local media, Nissan formed a "secret" cell within the firm to look into the alleged financial misdeed.

Executives accelerated the probe amid concerns Ghosn was working on a fully-fledged merger between Nissan and Renault, Kyodo News said without naming its sources.

Renault is the dominant partner in the alliance, holding 43 per cent of the shares in Nissan, but the Japanese firm outsells its French counterpart -- sparking concern in Tokyo about the balance of power.

Together, the three-way alliance is the world's top-selling car company, with some 10.6 million vehicles rolling off the production line. It employs around 450,000 people worldwide.

Renault, which is 15-percent owned by the French state, has decided to stick by Ghosn for now, appointing an interim boss while the current CEO and chairman is "incapacitated."

'Conspiracy theory'

France's economy minister Bruno Le Maire has urged the Japanese firm to share "quickly" whatever evidence it has gathered and stressed Ghosn will stay at the helm of Renault "until there are tangible charges."

However, Le Maire also said "I do not believe in a conspiracy theory" amid talk of a so-called "palace coup" within Nissan to prevent Ghosn merging the firm with Renault.

Nissan's CEO Hiroto Saikawa spoke to staff on Monday to address the issue. Saikawa, who rose through the Nissan ranks under Ghosn's wing, has already spoken of his "great resentment and dismay" at the allegations.

Meanwhile, further claims continued to leak out in the Japanese media of Ghosn's alleged misconduct.

Officially, prosecutors are looking into allegations that he understated his income by around five billion yen ($44 million) between June 2011 and June 2015.

But the Asahi Shimbun said authorities are planning to re-arrest him on charges of understating his income by a further three billion yen -- for a total of $71 million -- for the following three fiscal years.

Under Japanese law, suspects can face additional arrest warrants, which can result in heavier penalties. The current allegations could see Ghosn facing 10 years behind bars and/or a 10-million-yen fine.

Separately, Kyodo has reported that Nissan paid $100,000 annually since 2002 to Ghosn's sister for a fictive "advisory" role.

And the Mainichi Shimbun reported on Monday that Ghosn used Nissan's corporate money to pay a donation to his daughter's university and also charged family trips to the company.

Top executives from Mitsubishi Motors gather on Monday to sack Carlos Ghosn as chairman over alleged financial misconduct that the once-revered tycoon denies, as further allegations leaked out against him.

Top executives from Mitsubishi Motors gather on Monday to sack Carlos Ghosn as chairman over alleged financial misconduct that the once-revered tycoon denies, as further allegations leaked out against him. At an emergency meeting in Tokyo, "it is to be proposed to the Board of Directors to promptly remove Ghosn from his position as... chairman," said the Japanese firm, the third company in the powerful alliance also involving Nissan and Renault. Following his stunning arrest last Monday, the 64-year-old Brazil-born Frenchman began his second week in a Japanese detention centre facing allegations he under-reported his salary to the tune of $44 million over several years. He has not been formally charged and denies the allegations, telling prosecutors he had no intention of under-declaring his compensation. Fellow executive Greg Kelly, described as the mastermind behind the alleged misconduct, has also reportedly denied the allegations, stressing that his boss's compensation was paid in an appropriate fashion. The board of Nissan decided unanimously on Thursday to oust Ghosn as chairman, a spectacular fall from grace for the dynamic businessman credited with turning around the firm's once-flagging fortunes by tying its fate to Renault. The executives made their decision "based on the copious amount and compelling nature of the evidence of misconduct presented," said a company spokesman. According to local media, Nissan formed a "secret" cell within the firm to look into the alleged financial misdeed. Executives accelerated the probe amid concerns Ghosn was working on a fully-fledged merger between Nissan and Renault, Kyodo News said without naming its sources. Renault is the dominant partner in the alliance, holding 43 per cent of the shares in Nissan, but the Japanese firm outsells its French counterpart -- sparking concern in Tokyo about the balance of power. Together, the three-way alliance is the world's top-selling car company, with some 10.6 million vehicles rolling off the production line. It employs around 450,000 people worldwide. Renault, which is 15-percent owned by the French state, has decided to stick by Ghosn for now, appointing an interim boss while the current CEO and chairman is "incapacitated." 'Conspiracy theory' France's economy minister Bruno Le Maire has urged the Japanese firm to share "quickly" whatever evidence it has gathered and stressed Ghosn will stay at the helm of Renault "until there are tangible charges." However, Le Maire also said "I do not believe in a conspiracy theory" amid talk of a so-called "palace coup" within Nissan to prevent Ghosn merging the firm with Renault. Nissan's CEO Hiroto Saikawa spoke to staff on Monday to address the issue. Saikawa, who rose through the Nissan ranks under Ghosn's wing, has already spoken of his "great resentment and dismay" at the allegations. Meanwhile, further claims continued to leak out in the Japanese media of Ghosn's alleged misconduct. Officially, prosecutors are looking into allegations that he understated his income by around five billion yen ($44 million) between June 2011 and June 2015. But the Asahi Shimbun said authorities are planning to re-arrest him on charges of understating his income by a further three billion yen -- for a total of $71 million -- for the following three fiscal years. Under Japanese law, suspects can face additional arrest warrants, which can result in heavier penalties. The current allegations could see Ghosn facing 10 years behind bars and/or a 10-million-yen fine. Separately, Kyodo has reported that Nissan paid $100,000 annually since 2002 to Ghosn's sister for a fictive "advisory" role. And the Mainichi Shimbun reported on Monday that Ghosn used Nissan's corporate money to pay a donation to his daughter's university and also charged family trips to the company.

Carlos Ghosn faces Mitsubishi sack as more allegations surface

Japanese car firm <a href="http://www.wionews.com/world/nissan-ceo-tells-staff-feels-dismay-at-ghosn-scandal-179100">Mitsubishi Motors today</a>&nbsp;sacked Carlos Ghosn, 64, as chairman&nbsp;over alleged financial misconduct at the Japanese-based car company.

"During today's board meeting, it was decided that he is dismissed as chairman," the company said in a statement.

The <a href="http://www.wionews.com/business-economy/nissan-board-sacks-carlos-ghosn-as-chairman-media-178798">high-profile ex-chairman was arrested</a> last week after reports of financial mismanagement emerged. The eight-member Mitsubishi board met at the Yokohama headquarters in Tokyo to dismiss Ghosn. The meeting was attended by several hundred staff members which was presided by CEO Hiroto Saikawa.

Nissan CEO Hiroto Saikawa had said earlier that concentration of power in Ghosn meant there was a lack of direct communication between the other alliance board members, Reuters reported.

Ghosn allegedly underreported his salary to the tune of&nbsp; $44 million between June 2011 and June 2015. The company said Ghosn was ousted "based on the copious amount and compelling nature of the evidence of misconduct presented."

Japanese media reports said authorities are planning to re-arrest him on charges of understating his income totaling $71 million. According to local media reports, Nissan has formed a secret cell within the company to look into the alleged financial misconduct of Ghosn.

However, France has decided to stand by Ghosn for now, it has appointed Thierry Bollore as the interim CEO of Renault. The Mitsubishi-Nissan-Renault trinity is one of the biggest car entity in the world selling over 10 million cars worldwide employing thousands of employees.

Ghosn faces 10 years imprisonment according to Japanese law. Ghosn has denied the allegations.

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Japanese car firm Mitsubishi Motors today sacked Carlos Ghosn, 64, as chairman over alleged financial misconduct at the Japanese-based car company. "During today's board meeting, it was decided that he is dismissed as chairman," the company said in a statement.

Japanese car firm Mitsubishi Motors today sacked Carlos Ghosn, 64, as chairman over alleged financial misconduct at the Japanese-based car company. "During today's board meeting, it was decided that he is dismissed as chairman," the company said in a statement. The high-profile ex-chairman was arrested last week after reports of financial mismanagement emerged. The eight-member Mitsubishi board met at the Yokohama headquarters in Tokyo to dismiss Ghosn. The meeting was attended by several hundred staff members which was presided by CEO Hiroto Saikawa. Nissan CEO Hiroto Saikawa had said earlier that concentration of power in Ghosn meant there was a lack of direct communication between the other alliance board members, Reuters reported. Ghosn allegedly underreported his salary to the tune of $44 million between June 2011 and June 2015. The company said Ghosn was ousted "based on the copious amount and compelling nature of the evidence of misconduct presented." Japanese media reports said authorities are planning to re-arrest him on charges of understating his income totaling $71 million. According to local media reports, Nissan has formed a secret cell within the company to look into the alleged financial misconduct of Ghosn. However, France has decided to stand by Ghosn for now, it has appointed Thierry Bollore as the interim CEO of Renault. The Mitsubishi-Nissan-Renault trinity is one of the biggest car entity in the world selling over 10 million cars worldwide employing thousands of employees. Ghosn faces 10 years imprisonment according to Japanese law. Ghosn has denied the allegations. ×

Mitsubishi sacks Carlos Ghosn over alleged financial misconduct

Former Nissan chairman Carlos Ghosn, arrested last Monday <a href="http://www.wionews.com/business-economy/nissan-chairman-carlos-ghosn-arrested-in-tokyo-for-financial-misconduct-178200">on suspicion of financial misdoing</a>, has denied the allegations against him, Japanese public broadcaster NHK said on Sunday.

Ghosn, who has not spoken publicly, has told investigators that he had no intention of under-reporting his remuneration on financial documents and has denied allegations against him, NHK said, without giving sources or further details.

Greg Kelly, a former Nissan executive arrested along with Ghosn on Monday, was quoted by NHK on Saturday as defending Ghosn's compensation, saying it was discussed with other officials and paid out appropriately.

Ghosn and Kelly were ousted by the automaker on Thursday and a source familiar with the matter said Nissan aims to nominate a new chairman within a month or two, hopefully before its next board meeting slated for around December 20.

Japanese prosecutors say Ghosn and Kelly conspired to understate Ghosn's remuneration by about half the 10 billion yen ($88 million) he earned at Nissan over five years from 2010. The company has also cited other, multiple infractions.

Former Nissan chairman Carlos Ghosn, arrested last Monday on suspicion of financial misdoing, has denied the allegations against him, Japanese public broadcaster NHK said on Sunday.

Former Nissan chairman Carlos Ghosn, arrested last Monday on suspicion of financial misdoing, has denied the allegations against him, Japanese public broadcaster NHK said on Sunday. Ghosn, who has not spoken publicly, has told investigators that he had no intention of under-reporting his remuneration on financial documents and has denied allegations against him, NHK said, without giving sources or further details. Greg Kelly, a former Nissan executive arrested along with Ghosn on Monday, was quoted by NHK on Saturday as defending Ghosn's compensation, saying it was discussed with other officials and paid out appropriately. Ghosn and Kelly were ousted by the automaker on Thursday and a source familiar with the matter said Nissan aims to nominate a new chairman within a month or two, hopefully before its next board meeting slated for around December 20. Japanese prosecutors say Ghosn and Kelly conspired to understate Ghosn's remuneration by about half the 10 billion yen ($88 million) he earned at Nissan over five years from 2010. The company has also cited other, multiple infractions.

Former Nissan chairman Carlos Ghosn denies allegations against him: NHK

Nissan chief Hiroto Saikawa spoke of his "resentment and dismay" at revelations of misconduct by former company chief Carlos Ghosn in a letter to company employees.

Saikawa said he could not reveal all details of what had happened because the case was still under investigation.

But the company accused Ghosn of having under-reported compensation amounts, misrepresented the company's investments and used company assets for personal use.

It also accused representative director Greg Kelly of having masterminded the fraud with Ghosn. The company dismissed Ghosn and Kelly on Thursday.

As someone who had devoted himself to the Nissan revival plan, "I am left with great resentment and dismay that is difficult to articulate", wrote Saikawa.

"I truly regret, and would like to apologize for, us betraying and completely letting down our customers, business partners and other stakeholders who supported us after our revival," he wrote.

The internal memo invited all staff to a "town hall" meeting Monday with Saikawa to discuss the future of the company.

Nissan's former chairman Ghosn has since Monday been held in custody in Japan accused of having understated his income by some five billion yen ($44 million) between June 2011 and June 2015.

Japanese prosecutors have also accused Kelly of having a role in the offences.

Deputy chief prosecutor Shin Kukimoto said the Ghosn case was "one of the most serious types of crime" under Japan's Financial Instruments Act, and that Ghosn could face up to 10 years in jail.

Although the Nissan board sacked Ghosn and Kelly, they have made it clear they want to their alliance with Renault and Mitsubishi survive.

The board of Mitsubishi Motors was reportedly set to meet on Monday to discuss Ghosn's future.

Renault's board has so far stood by Ghosn -- naming his deputy Thierry Bollore to handle day-to-day business.

Nissan chief Hiroto Saikawa spoke of his "resentment and dismay" at revelations of misconduct by former company chief Carlos Ghosn in a letter to company employees.

Nissan chief Hiroto Saikawa spoke of his "resentment and dismay" at revelations of misconduct by former company chief Carlos Ghosn in a letter to company employees. Saikawa said he could not reveal all details of what had happened because the case was still under investigation. But the company accused Ghosn of having under-reported compensation amounts, misrepresented the company's investments and used company assets for personal use. It also accused representative director Greg Kelly of having masterminded the fraud with Ghosn. The company dismissed Ghosn and Kelly on Thursday. As someone who had devoted himself to the Nissan revival plan, "I am left with great resentment and dismay that is difficult to articulate", wrote Saikawa. "I truly regret, and would like to apologize for, us betraying and completely letting down our customers, business partners and other stakeholders who supported us after our revival," he wrote. The internal memo invited all staff to a "town hall" meeting Monday with Saikawa to discuss the future of the company. Nissan's former chairman Ghosn has since Monday been held in custody in Japan accused of having understated his income by some five billion yen ($44 million) between June 2011 and June 2015. Japanese prosecutors have also accused Kelly of having a role in the offences. Deputy chief prosecutor Shin Kukimoto said the Ghosn case was "one of the most serious types of crime" under Japan's Financial Instruments Act, and that Ghosn could face up to 10 years in jail. Although the Nissan board sacked Ghosn and Kelly, they have made it clear they want to their alliance with Renault and Mitsubishi survive. The board of Mitsubishi Motors was reportedly set to meet on Monday to discuss Ghosn's future. Renault's board has so far stood by Ghosn -- naming his deputy Thierry Bollore to handle day-to-day business.

Nissan CEO tells staff feels 'dismay' at Ghosn scandal

Hiroto Saikawa, tipped to replace disgraced Carlos Ghosn as Nissan chairman, was long considered one of "Ghosn's children", a loyalist to the powerful tycoon who owed him everything -- but then oversaw his downfall.

The mild-mannered 65-year-old bespectacled Nissan lifer stunned observers when he unleashed a string of harsh charges against his mentor following Ghosn's arrest on suspicion of "serious" financial misconduct.

Lashing out at the "dark side" of the Ghosn era, Saikawa appeared to be affected personally by the alleged corruption of a man who had overseen his career.

"It's way beyond being sorry. I feel, I don't know, big disappointment and frustration and despair. Indignation and resentment," said Saikawa.

A year older than Ghosn, Saikawa joined Nissan in 1977 directly from the prestigious University of Tokyo where he studied economics.

He took several brief postings in Europe but his big break came in 2000 when Ghosn officially took the helm of Nissan and embarked on his aggressive campaign to turn the company around.

Under Ghosn's wing, Saikawa rose steadily through the ranks as a procurement specialist, impressing other executives with his zeal to drive down parts and material costs.

Saikawa's career developed quickly as he held various senior positions, ranging from head of the management committee in the Americas and Europe to executive vice-president of purchasing.

As a key member of the auto alliance that combines Nissan, Renault and Mitsubishi Motors, Saikawa also sat on the French firm's board of directors between 2006 and 2016.

In this role, he won praise from Ghosn for his dealings with French officials as he defended Nissan's autonomy from Renault, which holds a 43-per cent stake in the Japanese brand.

A private man, little is known about his personal life, with Nissan insiders telling local media he is a serious businessman with an eye for detail.

"His way of thinking is more business-oriented than French people," the head of a parts maker told industry website Newswitch in 2016, in an apparent comparison to other Japanese business people who prize relationships over profits.

Outside Nissan, Saikawa has also served as chairman of the powerful industry body, the Japan Automobile Manufacturers Association (JAMA).

Finally, Ghosn appointed his right-hand man as co-CEO in 2016 and a year later stepped aside to leave Saikawa in sole charge.

At that time, the two heaped praise on each other, with Ghosn saying "the time is right" for Saikawa to step out from his shadow.

At his news conference following Ghosn's arrest, Saikawa vowed the company would learn from the mistake of placing too much power in the hands of one executive.

"Ghosn-dependent Nissan makes a clean break," said a headline in the Asahi Shimbun after Saikawa's comments.

The ultimate company man, Saikawa is now expected to take the reins as chairman following Ghosn's expected ouster at a board meeting on Thursday.

Hiroto Saikawa, tipped to replace disgraced Carlos Ghosn as Nissan chairman, was long considered one of "Ghosn's children", a loyalist to the powerful tycoon who owed him everything -- but then oversaw his downfall.

Hiroto Saikawa, tipped to replace disgraced Carlos Ghosn as Nissan chairman, was long considered one of "Ghosn's children", a loyalist to the powerful tycoon who owed him everything -- but then oversaw his downfall. The mild-mannered 65-year-old bespectacled Nissan lifer stunned observers when he unleashed a string of harsh charges against his mentor following Ghosn's arrest on suspicion of "serious" financial misconduct. Lashing out at the "dark side" of the Ghosn era, Saikawa appeared to be affected personally by the alleged corruption of a man who had overseen his career. "It's way beyond being sorry. I feel, I don't know, big disappointment and frustration and despair. Indignation and resentment," said Saikawa. A year older than Ghosn, Saikawa joined Nissan in 1977 directly from the prestigious University of Tokyo where he studied economics. He took several brief postings in Europe but his big break came in 2000 when Ghosn officially took the helm of Nissan and embarked on his aggressive campaign to turn the company around. Under Ghosn's wing, Saikawa rose steadily through the ranks as a procurement specialist, impressing other executives with his zeal to drive down parts and material costs. Saikawa's career developed quickly as he held various senior positions, ranging from head of the management committee in the Americas and Europe to executive vice-president of purchasing. As a key member of the auto alliance that combines Nissan, Renault and Mitsubishi Motors, Saikawa also sat on the French firm's board of directors between 2006 and 2016. In this role, he won praise from Ghosn for his dealings with French officials as he defended Nissan's autonomy from Renault, which holds a 43-per cent stake in the Japanese brand. A private man, little is known about his personal life, with Nissan insiders telling local media he is a serious businessman with an eye for detail. "His way of thinking is more business-oriented than French people," the head of a parts maker told industry website Newswitch in 2016, in an apparent comparison to other Japanese business people who prize relationships over profits. Outside Nissan, Saikawa has also served as chairman of the powerful industry body, the Japan Automobile Manufacturers Association (JAMA). Finally, Ghosn appointed his right-hand man as co-CEO in 2016 and a year later stepped aside to leave Saikawa in sole charge. At that time, the two heaped praise on each other, with Ghosn saying "the time is right" for Saikawa to step out from his shadow. At his news conference following Ghosn's arrest, Saikawa vowed the company would learn from the mistake of placing too much power in the hands of one executive. "Ghosn-dependent Nissan makes a clean break," said a headline in the Asahi Shimbun after Saikawa's comments. The ultimate company man, Saikawa is now expected to take the reins as chairman following Ghosn's expected ouster at a board meeting on Thursday.

Nissan's Saikawa: 'Ghosn child' who ousted mentor

Nissan board members have sacked disgraced <a href="http://www.wionews.com/world/nissan-crisis-japan-court-extends-carlos-ghosns-arrest-by-10-days-178536">Carlos Ghosn as chairman</a>, local media reported Thursday, which would be a spectacular fall from grace for the once-revered boss whose arrest for financial misconduct stunned the car industry and the business world.

Public broadcaster NHK and business daily Nikkei both said the seven-member board had decided to remove the 64-year-old from the top of the firm he has led for almost two decades.

<a href="http://www.wionews.com/business-economy/nissan-chairman-carlos-ghosn-arrested-in-tokyo-for-financial-misconduct-178200">Ghosn</a> stands accused of under-reporting his income by millions of dollars and a host of other financial irregularities, alleged after a months-long internal Nissan probe following a whistleblower report.

His ouster as chairman represents an astonishing turnaround for the titan of the auto sector who revived the Japanese brand and forged an alliance with Renault and Mitsubishi Motors, which sold a combined 10.6 million cars last year -- more than any other firm.

It also throws the future of the alliance into doubt, as Ghosn was the architect of the fractious tie-up -- which employs 450,000 people globally -- and the glue holding it together.

Prosecutors intercepted the Brazil-born tycoon Monday as he landed in Tokyo on a private jet, accusing him and another executive Greg Kelly of understating the chairman's income by around $44 million between June 2011 and June 2015.

His fate as Nissan chairman appeared sealed just hours later as his hand-picked successor as CEO, Hiroto Saikawa launched an impassioned broadside at his former mentor, muttering about a "dark side" to the Ghosn era and urging his sacking.

Even after being jettisoned as chairman, Ghosn remains technically a member of the board as a full shareholders' meeting is required to remove him.

'In good health'

Ghosn is being held custody in a Tokyo detention centre and has not been seen in public nor made any comments since his arrest.

He received a visit from Brazilian consul Joao de Mendonca on Thursday who told AFP that Ghosn "sounded very well, in good health".

However, his conditions are likely to be a far cry from what the millionaire businessman is used to. Inmates at the centre are typically allowed 30 minutes exercise per day and only two baths a week.

Ties and strings are removed to prevent suicide attempts and former guards and lawyers said Ghosn was almost certain to be held in a cramped cell on his own.&nbsp;

On Wednesday, prosecutors successfully applied to extend his custody for an additional 10 days as they step up their questioning.

Deputy chief prosecutor Shin Kukimoto said that the type of crime Ghosn is accused of is "one of the most serious types of crime" under Japan's Financial Instruments Act and Ghosn could face a 10-million-yen fine and/or a 10-year prison sentence.

Under the law, companies themselves can also be held accountable for the falsified documents, Kukimoto said, following reports that prosecutors believe Nissan also has a case to answer.

Public broadcaster NHK said Nissan had paid "huge sums" to provide Ghosn with luxury homes in Rio de Janeiro, Beirut, Paris and Amsterdam "without any legitimate business reason".

Ghosn had a reputation as a hard-nosed workaholic with had no qualms about closing factories and slashing jobs -- earning the nickname "Le Cost Killer" in France, where 47,000 employees work for Renault.

But his exorbitant salary and flashy lifestyle -- at odds with Japanese corporate culture -- drew fire and his current accommodation will be a far cry from his usual expensive surroundings.

'Couple divorcing'

According to the Financial Times, Ghosn's fall from grace came as he was working on a full-blown merger of Nissan and Renault.

This was opposed by executives in the Japanese firm that has ended up being the most profitable player in the partnership and the FT said Ghosn's departure could be used as a pretext to rebalance the alliance in Nissan's favour.

Renault has held off jettisoning Ghosn, pointedly saying Nissan had failed to share the evidence it had gathered with its sister company.

Governments in Paris and Tokyo have been scrambling to contain the fallout from the arrest, with President Emmanuel Macron saying France would be "extremely vigilant" about the stability of Renault and the alliance.

Analysts said that despite clear tensions between the two firms headquartered 10,000 kilometres apart, neither company has the financial might alone to make the heavy investments in electric vehicles considered to be the industry's future.

"It would be like a couple divorcing after 20 years -- it would be complicated, very expensive and not easy to do," said Gaetan Toulemonde, an analyst at Deutsche Bank.

"Honestly, I don't know if it's even possible."

Nissan board members have sacked disgraced Carlos Ghosn as chairman, local media reported Thursday, which would be a spectacular fall from grace for the once-revered boss whose arrest for financial misconduct stunned the car industry and the business world.

Nissan board members have sacked disgraced Carlos Ghosn as chairman, local media reported Thursday, which would be a spectacular fall from grace for the once-revered boss whose arrest for financial misconduct stunned the car industry and the business world. Public broadcaster NHK and business daily Nikkei both said the seven-member board had decided to remove the 64-year-old from the top of the firm he has led for almost two decades. Ghosn stands accused of under-reporting his income by millions of dollars and a host of other financial irregularities, alleged after a months-long internal Nissan probe following a whistleblower report. His ouster as chairman represents an astonishing turnaround for the titan of the auto sector who revived the Japanese brand and forged an alliance with Renault and Mitsubishi Motors, which sold a combined 10.6 million cars last year -- more than any other firm. It also throws the future of the alliance into doubt, as Ghosn was the architect of the fractious tie-up -- which employs 450,000 people globally -- and the glue holding it together. Prosecutors intercepted the Brazil-born tycoon Monday as he landed in Tokyo on a private jet, accusing him and another executive Greg Kelly of understating the chairman's income by around $44 million between June 2011 and June 2015. His fate as Nissan chairman appeared sealed just hours later as his hand-picked successor as CEO, Hiroto Saikawa launched an impassioned broadside at his former mentor, muttering about a "dark side" to the Ghosn era and urging his sacking. Even after being jettisoned as chairman, Ghosn remains technically a member of the board as a full shareholders' meeting is required to remove him. 'In good health' Ghosn is being held custody in a Tokyo detention centre and has not been seen in public nor made any comments since his arrest. He received a visit from Brazilian consul Joao de Mendonca on Thursday who told AFP that Ghosn "sounded very well, in good health". However, his conditions are likely to be a far cry from what the millionaire businessman is used to. Inmates at the centre are typically allowed 30 minutes exercise per day and only two baths a week. Ties and strings are removed to prevent suicide attempts and former guards and lawyers said Ghosn was almost certain to be held in a cramped cell on his own. On Wednesday, prosecutors successfully applied to extend his custody for an additional 10 days as they step up their questioning. Deputy chief prosecutor Shin Kukimoto said that the type of crime Ghosn is accused of is "one of the most serious types of crime" under Japan's Financial Instruments Act and Ghosn could face a 10-million-yen fine and/or a 10-year prison sentence. Under the law, companies themselves can also be held accountable for the falsified documents, Kukimoto said, following reports that prosecutors believe Nissan also has a case to answer. Public broadcaster NHK said Nissan had paid "huge sums" to provide Ghosn with luxury homes in Rio de Janeiro, Beirut, Paris and Amsterdam "without any legitimate business reason". Ghosn had a reputation as a hard-nosed workaholic with had no qualms about closing factories and slashing jobs -- earning the nickname "Le Cost Killer" in France, where 47,000 employees work for Renault. But his exorbitant salary and flashy lifestyle -- at odds with Japanese corporate culture -- drew fire and his current accommodation will be a far cry from his usual expensive surroundings. 'Couple divorcing' According to the Financial Times, Ghosn's fall from grace came as he was working on a full-blown merger of Nissan and Renault. This was opposed by executives in the Japanese firm that has ended up being the most profitable player in the partnership and the FT said Ghosn's departure could be used as a pretext to rebalance the alliance in Nissan's favour. Renault has held off jettisoning Ghosn, pointedly saying Nissan had failed to share the evidence it had gathered with its sister company. Governments in Paris and Tokyo have been scrambling to contain the fallout from the arrest, with President Emmanuel Macron saying France would be "extremely vigilant" about the stability of Renault and the alliance. Analysts said that despite clear tensions between the two firms headquartered 10,000 kilometres apart, neither company has the financial might alone to make the heavy investments in electric vehicles considered to be the industry's future. "It would be like a couple divorcing after 20 years -- it would be complicated, very expensive and not easy to do," said Gaetan Toulemonde, an analyst at Deutsche Bank. "Honestly, I don't know if it's even possible."

Nissan board sacks Carlos Ghosn as chairman

Tokyo prosecutors have won<a href="http://www.wionews.com/business-economy/thierry-bollore-declared-nissan-deputy-ceo-after-carlos-ghosns-arrest-178476"> permission from a district</a> court to extend the detention of Nissan chairman Carlos Ghosn for a further 10 days, several media reported on Wednesday.

Prosecutors had 48 hours after his arrest to either press formal charges, release him or request this 10-day custody extension to continue questioning.&nbsp;

Contacted by AFP, both the court and the prosecutor declined to confirm the reports.

In a stunning fall from grace for the once-loved tycoon, Ghosn was arrested after arriving in Tokyo on his private jet on Monday.

His firm Nissan accused him of under-reporting his salary over a period of several years and "numerous significant acts of misconduct."

Public broadcaster NHK reported that Nissan had paid "huge sums" to provide Ghosn with luxury homes in Rio de Janeiro, Beirut, Paris and Amsterdam "without any legitimate business reason."

Tokyo prosecutors have won permission from a district court to extend the detention of Nissan chairman Carlos Ghosn for a further 10 days, several media reported on Wednesday.

Tokyo prosecutors have won permission from a district court to extend the detention of Nissan chairman Carlos Ghosn for a further 10 days, several media reported on Wednesday. Prosecutors had 48 hours after his arrest to either press formal charges, release him or request this 10-day custody extension to continue questioning. Contacted by AFP, both the court and the prosecutor declined to confirm the reports. In a stunning fall from grace for the once-loved tycoon, Ghosn was arrested after arriving in Tokyo on his private jet on Monday. His firm Nissan accused him of under-reporting his salary over a period of several years and "numerous significant acts of misconduct." Public broadcaster NHK reported that Nissan had paid "huge sums" to provide Ghosn with luxury homes in Rio de Janeiro, Beirut, Paris and Amsterdam "without any legitimate business reason."

Japan court extends Nissan chairman Carlos Ghosn's arrest by 10 days: Report

Renault board refrains from ousting Carlos Ghosn

The man chosen to temporarily replace<a href="http://www.wionews.com/business-economy/nissan-shares-plunge-as-ghosn-faces-ouster-after-arrest-178288"> fallen auto star Carlos Ghosn at Renault</a> is an industry insider with many years of experience working in Asia.

Thierry Bollore, a 55-year-old father of five, has been declared deputy CEO to ensure day-to-day management following Ghosn's stunning arrest in Tokyo on charges of under-reporting his pay at Nissan.

Before his temporary elevation to the top of Renault, Bollore was the French car giant's Chief Operating Officer, a position he was promoted to in February in a move widely seen at the time as Ghosn anointing his successor.

In many ways the two men began with similar career trajectories. Like Ghosn, Bollore was first spotted as a rising talent at Michelin before he switched to a car manufacturer and made his way into the top ranks.

But those who have worked with him paint a somewhat softer portrait than Ghosn, who built a reputation -- and enemies -- as a maverick turnaround specialist who blew a gale through a musty corporate world, especially in Asia.

"(He's) very rigorous, very serious, but at the same time warm. He has calm, analytical qualities and he's level-headed," a senior person in the auto sector who worked with Bollore told AFP.

"I think that his knowledge of Asia and his skills in relationships with the Japanese will give him an advantage in the succession," added the former colleague, who said he appreciated Bollore's "integrity and loyalty".

Business development in China is a major priority for Renault as well as the complex Franco-Japanese coalition between Renault, Nissan and Mitsubishi.

Resentment has long been brewing in Japan over the structure of the alliance, which some say gives French carmaker Renault an undue share of the Japanese company's profits.

Renault currently owns 43 per cent of Nissan, while Nissan only owns 15 per cent of Renault.

A Financial Times report said Ghosn has been working on a merger of the two carmakers that Nissan opposed because it could relegate the Japanese company to a secondary role.

Bollore has plenty of Asia experience to draw on.&nbsp;

With Michelin, he held senior posts in the late 1990s in Japan and Thailand. He later joined auto-parts giant Faurecia, spending much time in China in the early 2000s, before moving to Europe and South Africa.

He joined Renault in 2012, first as executive vice president for manufacturing and supply chain and then as Chief Competitive Officer until his elevation to Ghosn's de facto deputy in February.

A keen sailor, he was viewed at Renault as someone who upped the competitiveness of the company's factories as well as embracing digital transformations.

"He's someone who is open, poised, who listens but at the same time knows when to take a position," Franck Daout, a union leader who represents some Renault workers, said earlier this year.

The man chosen to temporarily replace fallen auto star Carlos Ghosn at Renault is an industry insider with many years of experience working in Asia. Thierry Bollore, a 55-year-old father of five, has been declared deputy CEO to ensure day-to-day management following Ghosn's stunning arrest in Tokyo on charges of under-reporting his pay at Nissan.

The man chosen to temporarily replace fallen auto star Carlos Ghosn at Renault is an industry insider with many years of experience working in Asia. Thierry Bollore, a 55-year-old father of five, has been declared deputy CEO to ensure day-to-day management following Ghosn's stunning arrest in Tokyo on charges of under-reporting his pay at Nissan. Before his temporary elevation to the top of Renault, Bollore was the French car giant's Chief Operating Officer, a position he was promoted to in February in a move widely seen at the time as Ghosn anointing his successor. In many ways the two men began with similar career trajectories. Like Ghosn, Bollore was first spotted as a rising talent at Michelin before he switched to a car manufacturer and made his way into the top ranks. But those who have worked with him paint a somewhat softer portrait than Ghosn, who built a reputation -- and enemies -- as a maverick turnaround specialist who blew a gale through a musty corporate world, especially in Asia. "(He's) very rigorous, very serious, but at the same time warm. He has calm, analytical qualities and he's level-headed," a senior person in the auto sector who worked with Bollore told AFP. "I think that his knowledge of Asia and his skills in relationships with the Japanese will give him an advantage in the succession," added the former colleague, who said he appreciated Bollore's "integrity and loyalty". Business development in China is a major priority for Renault as well as the complex Franco-Japanese coalition between Renault, Nissan and Mitsubishi. Resentment has long been brewing in Japan over the structure of the alliance, which some say gives French carmaker Renault an undue share of the Japanese company's profits. Renault currently owns 43 per cent of Nissan, while Nissan only owns 15 per cent of Renault. A Financial Times report said Ghosn has been working on a merger of the two carmakers that Nissan opposed because it could relegate the Japanese company to a secondary role. Bollore has plenty of Asia experience to draw on. With Michelin, he held senior posts in the late 1990s in Japan and Thailand. He later joined auto-parts giant Faurecia, spending much time in China in the early 2000s, before moving to Europe and South Africa. He joined Renault in 2012, first as executive vice president for manufacturing and supply chain and then as Chief Competitive Officer until his elevation to Ghosn's de facto deputy in February. A keen sailor, he was viewed at Renault as someone who upped the competitiveness of the company's factories as well as embracing digital transformations. "He's someone who is open, poised, who listens but at the same time knows when to take a position," Franck Daout, a union leader who represents some Renault workers, said earlier this year.

Thierry Bollore declared Nissan deputy CEO after Carlos Ghosn's arrest

Nissan and Mitsubishi shares plunged Tuesday, as the automakers prepared to oust chairman Carlos Ghosn a day after he was arrested for alleged financial misconduct.

Ghosn's arrest sent shockwaves through the auto industry, where he was a towering figure, as well as Tokyo markets, which opened lower as Nissan fell more than six per cent.

And his legacy appeared in danger of total collapse, with his own handpicked successor as Nissan CEO accusing Ghosn of accruing too much power, in what he called the "dark side" of his leadership.

The spectacular fall of the Brazil-born executive also raised questions about the future of the sometimes fractious alliance he led of Nissan, Mitsubishi and Renault.

Both Nissan and Mitsubishi have said they will propose his removal as chairman, with Renault's board also meeting to discuss his fate.

On Tuesday there were still many unanswered questions about the allegations against a man long credited with an almost magical ability to turn around ailing auto companies.

Nissan's CEO said a months-long investigation prompted by a whistleblower had uncovered years of financial wrongdoing, including under-reporting of Ghosn's salary and misuse of company assets.

Prosecutors said they were holding him as they investigated allegations he had under-reported his income by around five billion yen ($44.5 million) over five years.

The shock of his arrest was compounded by the harsh language levelled against him by Nissan CEO, Hiroto Saikawa, who in a press conference accused Ghosn of accruing too much power.

"Too much authority was given to one person in terms of governance," he told reporters at Nissan's headquarters in Yokohama on Monday.

"I have to say that this is a dark side of the Ghosn era which lasted for a long time."

Saikawa said he was still thinking through whether Ghosn was "a charismatic figure or a tyrant."

'Years of financial misconduct'

It was an almost unthinkable turn of events for Ghosn, 64, who had earned a virtually unparalleled reputation, particularly in Japan, for his role in resurrecting Nissan.

Ghosn has dominated the country's corporate landscape and is a well-known figure among the general public, who know him as "Mr Fix It", partly through a popular manga comic of his life story.

But the tables had turned Tuesday, with the Yomiuri Shimbun described executives at Nissan slamming Ghosn as "greedy."

"He says the right things, but in the end, it's all about money," the daily quoted employees as saying.

It was unclear how long Ghosn could be held, or even when prosecutors would officially announce the charges against him.&nbsp;

Nissan said it had uncovered years of financial misconduct by Ghosn and Representative Director Greg Kelly, including under-reporting of income and inappropriate personal use of company assets.

Saikawa gave few details and refused to confirm reports that Ghosn under-reported his income by 5 billion yen, or around $44 million, over five years from 2011.&nbsp;

He said an ongoing investigation limited what details could be shared, and refused to be drawn on whether other people were involved, saying only: "These two gentlemen are the masterminds, that is definite."

Saikawa insisted the partnership among Nissan, Renault and Mitsubishi "will not be affected by this event," but had no details on how the other firms would respond, or who might succeed Ghosn.

The news sparked concern in France, where the state owns a 15 per cent stake in Renault. President Emmanuel Macron said Paris would be "extremely vigilant" about the stability of the firm and its three-way tie-up.

And French Finance Minister Bruno Le Maire said the government would "do everything as a shareholder represented on Renault's board to ensure operational continuity and stable governance at Renault."

Despite his international renown and rock-star status, particularly in Japan, where he was a rare foreign-born executive, Ghosn was not without detractors.

He earned admiration but also anger for his ruthless restructuring at firms like Nissan, and was nicknamed "Le Cost Cutter" in France.

And his pay packet was regularly the subject of criticism, including at Renault, where it sparked a spat with shareholders.

Nissan and Mitsubishi shares plunged Tuesday, as the automakers prepared to oust chairman Carlos Ghosn a day after he was arrested for alleged financial misconduct.

Nissan and Mitsubishi shares plunged Tuesday, as the automakers prepared to oust chairman Carlos Ghosn a day after he was arrested for alleged financial misconduct. Ghosn's arrest sent shockwaves through the auto industry, where he was a towering figure, as well as Tokyo markets, which opened lower as Nissan fell more than six per cent. And his legacy appeared in danger of total collapse, with his own handpicked successor as Nissan CEO accusing Ghosn of accruing too much power, in what he called the "dark side" of his leadership. The spectacular fall of the Brazil-born executive also raised questions about the future of the sometimes fractious alliance he led of Nissan, Mitsubishi and Renault. Both Nissan and Mitsubishi have said they will propose his removal as chairman, with Renault's board also meeting to discuss his fate. On Tuesday there were still many unanswered questions about the allegations against a man long credited with an almost magical ability to turn around ailing auto companies. Nissan's CEO said a months-long investigation prompted by a whistleblower had uncovered years of financial wrongdoing, including under-reporting of Ghosn's salary and misuse of company assets. Prosecutors said they were holding him as they investigated allegations he had under-reported his income by around five billion yen ($44.5 million) over five years. The shock of his arrest was compounded by the harsh language levelled against him by Nissan CEO, Hiroto Saikawa, who in a press conference accused Ghosn of accruing too much power. "Too much authority was given to one person in terms of governance," he told reporters at Nissan's headquarters in Yokohama on Monday. "I have to say that this is a dark side of the Ghosn era which lasted for a long time." Saikawa said he was still thinking through whether Ghosn was "a charismatic figure or a tyrant." 'Years of financial misconduct' It was an almost unthinkable turn of events for Ghosn, 64, who had earned a virtually unparalleled reputation, particularly in Japan, for his role in resurrecting Nissan. Ghosn has dominated the country's corporate landscape and is a well-known figure among the general public, who know him as "Mr Fix It", partly through a popular manga comic of his life story. But the tables had turned Tuesday, with the Yomiuri Shimbun described executives at Nissan slamming Ghosn as "greedy." "He says the right things, but in the end, it's all about money," the daily quoted employees as saying. It was unclear how long Ghosn could be held, or even when prosecutors would officially announce the charges against him. Nissan said it had uncovered years of financial misconduct by Ghosn and Representative Director Greg Kelly, including under-reporting of income and inappropriate personal use of company assets. Saikawa gave few details and refused to confirm reports that Ghosn under-reported his income by 5 billion yen, or around $44 million, over five years from 2011. He said an ongoing investigation limited what details could be shared, and refused to be drawn on whether other people were involved, saying only: "These two gentlemen are the masterminds, that is definite." Saikawa insisted the partnership among Nissan, Renault and Mitsubishi "will not be affected by this event," but had no details on how the other firms would respond, or who might succeed Ghosn. The news sparked concern in France, where the state owns a 15 per cent stake in Renault. President Emmanuel Macron said Paris would be "extremely vigilant" about the stability of the firm and its three-way tie-up. And French Finance Minister Bruno Le Maire said the government would "do everything as a shareholder represented on Renault's board to ensure operational continuity and stable governance at Renault." Despite his international renown and rock-star status, particularly in Japan, where he was a rare foreign-born executive, Ghosn was not without detractors. He earned admiration but also anger for his ruthless restructuring at firms like Nissan, and was nicknamed "Le Cost Cutter" in France. And his pay packet was regularly the subject of criticism, including at Renault, where it sparked a spat with shareholders.

Nissan shares plunge as Ghosn faces ouster after arrest

The finance minister of France&nbsp;Bruno Le Maire said ''Carlos Ghosn is no longer in a position where he is capable of leading Renault.''

He added that he wanted Renault to set up an interim management structure in light of Ghosn's arrest.

The French government said on Tuesday it had found no evidence that auto boss Carlos Ghosn, who heads the Renault-Nissan-Mitsubishi alliance, had cheated on his taxes in France.

Economy Minister Bruno Le Maire told France Info radio that he had ordered an inquiry into Ghosn's tax affairs immediately after learning of his arrest in Japan but that it showed up "nothing in particular about his tax situation."

Ghosn was arrested on November 19 in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media.

Ghosn was accused by automaker Nissan of "significant acts of misconduct" including underreporting his salary. The company also stated that it would move to fire him. Ghosn leads an alliance of Nissan, Renault and Mitsubishi.

According to reports, Ghosn had used company money for personal use. Ghosn is charged of under-reporting nearly 10 billion yen ($88.70 million) in compensation as nearly 5 billion yen, Reuters reported quoting Jiji news agency.&nbsp;

Nissan and Mitsubishi shares plunged on Tuesday, as the automakers prepared to oust chairman Carlos Ghosn.

Le Maire also said he had asked French tax authorities to look into Ghosn's affairs and that they had found nothing of particular note.

The finance minister of France Bruno Le Maire said ''Carlos Ghosn is no longer in a position where he is capable of leading Renault.'' He added that he wanted Renault to set up an interim management structure in light of Ghosn's arrest.

The finance minister of France Bruno Le Maire said ''Carlos Ghosn is no longer in a position where he is capable of leading Renault.'' He added that he wanted Renault to set up an interim management structure in light of Ghosn's arrest. The French government said on Tuesday it had found no evidence that auto boss Carlos Ghosn, who heads the Renault-Nissan-Mitsubishi alliance, had cheated on his taxes in France. Economy Minister Bruno Le Maire told France Info radio that he had ordered an inquiry into Ghosn's tax affairs immediately after learning of his arrest in Japan but that it showed up "nothing in particular about his tax situation." Ghosn was arrested on November 19 in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media. Ghosn was accused by automaker Nissan of "significant acts of misconduct" including underreporting his salary. The company also stated that it would move to fire him. Ghosn leads an alliance of Nissan, Renault and Mitsubishi. According to reports, Ghosn had used company money for personal use. Ghosn is charged of under-reporting nearly 10 billion yen ($88.70 million) in compensation as nearly 5 billion yen, Reuters reported quoting Jiji news agency. Nissan and Mitsubishi shares plunged on Tuesday, as the automakers prepared to oust chairman Carlos Ghosn. Le Maire also said he had asked French tax authorities to look into Ghosn's affairs and that they had found nothing of particular note.

Carlos Ghosn no longer capable of leading Renault: French finance minister

Brazilian-born Carlos Ghosn, who is facing a pay scandal in Japan, has long stood out among the world's auto executives as a hard-nosed workaholic willing to take drastic measures to get companies back on their feet quickly.&nbsp;

As head of the Renault-Nissan-Mitsubishi alliance, Ghosn has created an industrial behemoth, its combined 470,000 employees selling 10.6 million vehicles last year from 122 factories around the globe.

But the group now looks troubled after Japanese police reportedly arrested Ghosn on suspicion he failed to report his full compensation to stock market authorities as chairman of Nissan.

Nissan's board has said it will seek his removal after a months-long inquiry prompted by a whistle-blower uncovered "significant acts of misconduct."

It is not the first time Ghosn has gotten into hot water over pay, in particular a combined salary that makes him one of the highest-paid CEOs in France and one of the best-paid foreign executives in Japan.

Last year he denied a report the alliance was planning to pay hidden bonuses to its executives by setting up a company in the Netherlands.

And in February the French state, which owns a 15 per cent stake in Renault, forced Ghosn to accept a 30 per cent pay cut from the 7.25 million euros ($8.3 million) he took home as Renault CEO last year, calling the amount "excessive".

The government had already put its foot down in 2016, joining with 54 per cent of voters at Renault's annual meeting in refusing to authorise a &nbsp;7.25-million-euro pay package.

The vote was overruled by Renault's board, but Ghosn later accepted a pay cut after Emmanuel Macron, France's finance minister at the time, threatened to step in with a new compensation law.

"Compensation is more scrutinised today than in the past," Ghosn told The Financial Times in June, but added: "You won't have any CEO say, 'I'm overly compensated'."

'Never accept interference'

Long nicknamed "Le Cost Killer" in France, Ghosn began his career with the tyre-maker Michelin and, after a early stint in Brazil, was quickly promoted and earned a reputation for turning around its North American operations.

From there, he was recruited by Renault in 1996 to work alongside then CEO Louis Schweitzer, where he helped return the company to profitability by making the former state-owned carmaker leaner and more efficient.

Just three years later, he was sent to head the newly acquired Nissan group with the challenge of doing the same thing within two years. He managed it within one.

The performance made him a hero in Japan, where manga comics are devoted to the suave businessman known for always being up before dawn after just six hours of sleep a night.

"A boss has to have 100 per cent freedom to act and 100 per cent responsibility for what he does. I have never tolerated any wavering from that principle, I will never accept any interference," he once said.

After restoring Renault and Nissan to sound financial footing -- in the process shedding thousands of jobs at each company -- Ghosn, who has French citizenship, quickly shifted into higher gear by pressing hard to develop electric cars.

More recently he has been focusing on reviving Mitsubishi, which secured a lifeline in 2016 from Nissan after it bought a 34 per cent stake.

Globetrotter

Crossing borders and adapting to different cultures have never been a problem for 64-year-old Ghosn.

Born in Brazil on March 9, 1954, to Lebanese parents, he was reportedly able to distinguish types of cars at the age of five just by the sound of their horns.

At the age of six, he went to live in the Lebanese capital Beirut with his mother and attended a Jesuit high school there.

Later he moved to Paris where he picked up degrees at two of France's most elite schools, including the Polytechnique engineering university.

His Portuguese, Spanish, Italian, French and English are fluent, and he has picked up a working knowledge of Japanese during his time at Nissan.

Yet he also fiercely guarded his personal time and maintains his ties with Lebanon, where he has invested in a winery.

"I do not bring my work home. I play with my four children and spend time with my family on weekends," he once told Fortune magazine.

"When I go to work on Monday... I come up with good ideas as a result of becoming stronger after being recharged."

&nbsp;

Brazilian-born Carlos Ghosn, who is facing a pay scandal in Japan, has long stood out among the world's auto executives as a hard-nosed workaholic willing to take drastic measures to get companies back on their feet quickly.

Brazilian-born Carlos Ghosn, who is facing a pay scandal in Japan, has long stood out among the world's auto executives as a hard-nosed workaholic willing to take drastic measures to get companies back on their feet quickly. As head of the Renault-Nissan-Mitsubishi alliance, Ghosn has created an industrial behemoth, its combined 470,000 employees selling 10.6 million vehicles last year from 122 factories around the globe. But the group now looks troubled after Japanese police reportedly arrested Ghosn on suspicion he failed to report his full compensation to stock market authorities as chairman of Nissan. Nissan's board has said it will seek his removal after a months-long inquiry prompted by a whistle-blower uncovered "significant acts of misconduct." It is not the first time Ghosn has gotten into hot water over pay, in particular a combined salary that makes him one of the highest-paid CEOs in France and one of the best-paid foreign executives in Japan. Last year he denied a report the alliance was planning to pay hidden bonuses to its executives by setting up a company in the Netherlands. And in February the French state, which owns a 15 per cent stake in Renault, forced Ghosn to accept a 30 per cent pay cut from the 7.25 million euros ($8.3 million) he took home as Renault CEO last year, calling the amount "excessive". The government had already put its foot down in 2016, joining with 54 per cent of voters at Renault's annual meeting in refusing to authorise a 7.25-million-euro pay package. The vote was overruled by Renault's board, but Ghosn later accepted a pay cut after Emmanuel Macron, France's finance minister at the time, threatened to step in with a new compensation law. "Compensation is more scrutinised today than in the past," Ghosn told The Financial Times in June, but added: "You won't have any CEO say, 'I'm overly compensated'." 'Never accept interference' Long nicknamed "Le Cost Killer" in France, Ghosn began his career with the tyre-maker Michelin and, after a early stint in Brazil, was quickly promoted and earned a reputation for turning around its North American operations. From there, he was recruited by Renault in 1996 to work alongside then CEO Louis Schweitzer, where he helped return the company to profitability by making the former state-owned carmaker leaner and more efficient. Just three years later, he was sent to head the newly acquired Nissan group with the challenge of doing the same thing within two years. He managed it within one. The performance made him a hero in Japan, where manga comics are devoted to the suave businessman known for always being up before dawn after just six hours of sleep a night. "A boss has to have 100 per cent freedom to act and 100 per cent responsibility for what he does. I have never tolerated any wavering from that principle, I will never accept any interference," he once said. After restoring Renault and Nissan to sound financial footing -- in the process shedding thousands of jobs at each company -- Ghosn, who has French citizenship, quickly shifted into higher gear by pressing hard to develop electric cars. More recently he has been focusing on reviving Mitsubishi, which secured a lifeline in 2016 from Nissan after it bought a 34 per cent stake. Globetrotter Crossing borders and adapting to different cultures have never been a problem for 64-year-old Ghosn. Born in Brazil on March 9, 1954, to Lebanese parents, he was reportedly able to distinguish types of cars at the age of five just by the sound of their horns. At the age of six, he went to live in the Lebanese capital Beirut with his mother and attended a Jesuit high school there. Later he moved to Paris where he picked up degrees at two of France's most elite schools, including the Polytechnique engineering university. His Portuguese, Spanish, Italian, French and English are fluent, and he has picked up a working knowledge of Japanese during his time at Nissan. Yet he also fiercely guarded his personal time and maintains his ties with Lebanon, where he has invested in a winery. "I do not bring my work home. I play with my four children and spend time with my family on weekends," he once told Fortune magazine. "When I go to work on Monday... I come up with good ideas as a result of becoming stronger after being recharged."

Carlos Ghosn, the auto world's 'cost killer'

Nissan chairman Carlos Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media.

"The Tokyo District Public Prosecutor's Office arrested Nissan chairman Ghosn on suspicion of violation of the Financial Instruments and Exchange Act," AFP quoted public broadcaster NHK.

Ghosn was accused by automaker Nissan of "significant acts of misconduct" including underreporting his salary. The company also stated that it would move to fire him.&nbsp;Ghosn leads an alliance of Nissan, Renault and Mitsubishi.

Nissan, in a statement, noted that a probe has been underway on Ghosn for months after receiving a report from a whistleblower. The company added that it had uncovered misconduct going back several years.&nbsp;

According to reports, Ghosn had used company money for personal use. Ghosn is charged of under-reporting nearly 10 billion yen ($88.70 million) in compensation as nearly 5 billion yen, Reuters reported quoting Jiji news agency.&nbsp;

The reported arrest of Nissan chairman Carlos Ghosn will not affect the Japanese automaker's relationship with Renault and Mitsubishi, CEO Hiroto Saikawa said Monday.&nbsp;

"The partnership among the three entities will not be affected by this event, rather we will closely work together with all the partners to contain any possible confusion," Saikawa told reporters after Ghosn's reported arrest for financial misconduct.

Nissan will hold a board meeting on Thursday to fire chairman Carlos Ghosn, who was reportedly under arrest over allegations of financial misconduct, the company's chief executive officer said.

Meanwhile,&nbsp;French automaker Renault's shares&nbsp;tumbled more than 12 per cent on Monday in late-morning trading in Paris after CEO Carlos Ghosn was accused of underreporting his salary as chairman of Japan's Nissan.

(With inputs from agencies)

Nissan chairman Carlos Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media. "The Tokyo District Public Prosecutor's Office arrested Nissan chairman Ghosn on suspicion of violation of the Financial Instruments and Exchange Act," AFP quoted public broadcaster NHK.

Nissan chairman Carlos Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media. "The Tokyo District Public Prosecutor's Office arrested Nissan chairman Ghosn on suspicion of violation of the Financial Instruments and Exchange Act," AFP quoted public broadcaster NHK. Ghosn was accused by automaker Nissan of "significant acts of misconduct" including underreporting his salary. The company also stated that it would move to fire him. Ghosn leads an alliance of Nissan, Renault and Mitsubishi. Nissan, in a statement, noted that a probe has been underway on Ghosn for months after receiving a report from a whistleblower. The company added that it had uncovered misconduct going back several years. According to reports, Ghosn had used company money for personal use. Ghosn is charged of under-reporting nearly 10 billion yen ($88.70 million) in compensation as nearly 5 billion yen, Reuters reported quoting Jiji news agency. The reported arrest of Nissan chairman Carlos Ghosn will not affect the Japanese automaker's relationship with Renault and Mitsubishi, CEO Hiroto Saikawa said Monday. "The partnership among the three entities will not be affected by this event, rather we will closely work together with all the partners to contain any possible confusion," Saikawa told reporters after Ghosn's reported arrest for financial misconduct. Nissan will hold a board meeting on Thursday to fire chairman Carlos Ghosn, who was reportedly under arrest over allegations of financial misconduct, the company's chief executive officer said. Meanwhile, French automaker Renault's shares tumbled more than 12 per cent on Monday in late-morning trading in Paris after CEO Carlos Ghosn was accused of underreporting his salary as chairman of Japan's Nissan. (With inputs from agencies)

Nissan chairman Carlos Ghosn arrested in Tokyo for financial misconduct

<a href="http://www.wionews.com/south-asia/pak-lost-over-123-billion-by-joining-us-war-on-terror-aid-received-was-minuscule-20-bn-imran-khan-on-trumps-tirade-178222">Pak lost over $123 bn by joining US war on terror; aid received was minuscule: Imran Khan on Trump's tirade</a>

Pakistan's Prime Minister Imran Khan on Monday reacted to Donald Trump's latest tirade on Islamabad. In a series of tweets, the Pakistan Tehreek-e-insaf chief stated that "no Pakistani was involved in 9/11 but Pak decided to participate in US war on terror."

<a href="http://www.wionews.com/south-asia/maldives-set-to-pull-out-of-china-free-trade-deal-says-senior-lawmaker-178234">Maldives set to pull out of China free trade deal, says senior lawmaker</a>

The Maldives’ new government will pull out of a free trade agreement (FTA) with China because it was a mistake for the tiny nation to strike such a pact with the world’s second biggest economy, the head of the largest party in the ruling alliance said.VVIP chopper deal case: UAE court says 'considering possibility of extraditing Michel' to India

<a href="http://www.wionews.com/india-news/uae-court-says-considering-possibility-of-extraditing-michel-to-india-sources-178235">VVIP chopper deal case: UAE court says 'considering possibility of extraditing Michel' to India</a>

Dubai has approved India’s request to extradite Christen Michel, who is wanted in connection with the Rs 3,600 crore AgustaWestand VVIP chopper deal case.

<a href="http://www.wionews.com/business-economy/nissan-chairman-carlos-ghosn-arrested-in-tokyo-for-financial-misconduct-178200">Nissan chairman Carlos Ghosn arrested in Tokyo for financial misconduct</a>

Nissan chairman Carlos Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media.

<a href="http://www.wionews.com/india-news/national-security-adviser-ajit-doval-interfered-in-asthana-probe-cbi-director-tells-top-court-178202">National Security Adviser Ajit Doval interfered in Asthana probe, CBI official tells top court</a>

A CBI officer, who was probing the FIR lodged against Special Director Rakesh Asthana, on Monday moved the Supreme Court seeking quashing of his transfer to Nagpur in Maharashtra.

Pak lost over $123 bn by joining US war on terror; aid received was minuscule: Imran Khan on Trump's tirade Pakistan's Prime Minister Imran Khan on Monday reacted to Donald Trump's latest tirade on Islamabad.

Pak lost over $123 bn by joining US war on terror; aid received was minuscule: Imran Khan on Trump's tirade Pakistan's Prime Minister Imran Khan on Monday reacted to Donald Trump's latest tirade on Islamabad. In a series of tweets, the Pakistan Tehreek-e-insaf chief stated that "no Pakistani was involved in 9/11 but Pak decided to participate in US war on terror." Maldives set to pull out of China free trade deal, says senior lawmaker The Maldives’ new government will pull out of a free trade agreement (FTA) with China because it was a mistake for the tiny nation to strike such a pact with the world’s second biggest economy, the head of the largest party in the ruling alliance said.VVIP chopper deal case: UAE court says 'considering possibility of extraditing Michel' to India VVIP chopper deal case: UAE court says 'considering possibility of extraditing Michel' to India Dubai has approved India’s request to extradite Christen Michel, who is wanted in connection with the Rs 3,600 crore AgustaWestand VVIP chopper deal case. Nissan chairman Carlos Ghosn arrested in Tokyo for financial misconduct Nissan chairman Carlos Ghosn was arrested on Monday in Tokyo for financial misconduct, news agency AFP reported quoting Japanese media. National Security Adviser Ajit Doval interfered in Asthana probe, CBI official tells top court A CBI officer, who was probing the FIR lodged against Special Director Rakesh Asthana, on Monday moved the Supreme Court seeking quashing of his transfer to Nagpur in Maharashtra.

News brief: Big stories of the day

WION Wallet: Nissan Chairman Carlos Ghosn arrested

Nissan Motor Co. aims to expand the company's footprints in African, Middle Eastern, and Indian markets as part of its six-year midterm plan.

It plans to maintain and build on solid profit margins in the region by developing a partnership with local talent to meet growing demand for automobiles.

Nissan has projected an increase of forty per cent in its regional sales by bringing more than 12 million vehicles by 2022.

It will further accelerate its Datsun brand's presence in new and existing markets and will continue to increase its market share in Turkey, Saudi Arabia, and India.

The product range provided under Nissan Intelligent Mobility will be expanded as new services in electrification, autonomous driving systems, and improved connectivity tools will be introduced.

Chairman of Nissan in Africa, Middle East, and India Peyman Kargar said, "Our ambitious plans reflect the exciting opportunities ahead. Nissan has already developed a strong presence within this fast-growing region, and we are well-positioned to maximize our growth and make an increasing and lasting contribution to Nissan's overall performance."

As per its mid-term plan, Nissan is targeting annual revenue of 16.5 trillion yen and an 8% core consolidated operating profit margin by the end of the fiscal year 2022.

The company has specific plans for each region.

Nissan plans to increase its market share in South Africa, now at 10%, substantially over the course of the plan. The company's sales in South Africa jumped by 26% as 53,400 vehicles are currently in the market in the fiscal year 2017. The introduction of new models, including the new Nissan Micra, is expected to boost demand further.

In India, the company will strengthen its dealership network and develop the power of the Datsun and Nissan brands through initiatives including sponsorship of the International Cricket Council. Nissan has built a strong foundation for growth in India with a 480,000-vehicle capacity plant, as well as a large research and development centre - both in Chennai and established with its Alliance partner, Renault.

In the Middle East, Nissan will add new models to its already strong presence in key segments, building on its fiscal year 2017 sales of 96,600 vehicles.

Nissan has projected an increase of forty per cent in its regional sales by bringing more than 12 million vehicles by 2022

Nissan Motor Co. aims to expand the company's footprints in African, Middle Eastern, and Indian markets as part of its six-year midterm plan. It plans to maintain and build on solid profit margins in the region by developing a partnership with local talent to meet growing demand for automobiles. Nissan has projected an increase of forty per cent in its regional sales by bringing more than 12 million vehicles by 2022. It will further accelerate its Datsun brand's presence in new and existing markets and will continue to increase its market share in Turkey, Saudi Arabia, and India. The product range provided under Nissan Intelligent Mobility will be expanded as new services in electrification, autonomous driving systems, and improved connectivity tools will be introduced. Chairman of Nissan in Africa, Middle East, and India Peyman Kargar said, "Our ambitious plans reflect the exciting opportunities ahead. Nissan has already developed a strong presence within this fast-growing region, and we are well-positioned to maximize our growth and make an increasing and lasting contribution to Nissan's overall performance." As per its mid-term plan, Nissan is targeting annual revenue of 16.5 trillion yen and an 8% core consolidated operating profit margin by the end of the fiscal year 2022. The company has specific plans for each region. Nissan plans to increase its market share in South Africa, now at 10%, substantially over the course of the plan. The company's sales in South Africa jumped by 26% as 53,400 vehicles are currently in the market in the fiscal year 2017. The introduction of new models, including the new Nissan Micra, is expected to boost demand further. In India, the company will strengthen its dealership network and develop the power of the Datsun and Nissan brands through initiatives including sponsorship of the International Cricket Council. Nissan has built a strong foundation for growth in India with a 480,000-vehicle capacity plant, as well as a large research and development centre - both in Chennai and established with its Alliance partner, Renault. In the Middle East, Nissan will add new models to its already strong presence in key segments, building on its fiscal year 2017 sales of 96,600 vehicles.

Nissan announces expansion plans in India, Africa, Middle East

Nissan Motor Co is taking its first steps to becoming an operator of autonomous vehicle services, hoping to break into a segment set to be dominated by Uber and other technology firms.

While automakers for more than a century have based their business models on individual car ownership, Japan&#39;s No.2 automaker and its rivals are now preparing for a future in which self-driving cars are anticipated to curb vehicle ownership.

In partnership with Japanese mobile gaming platform operator DeNA Co, Nissan will begin public field tests of its Easy Ride service in Yokohama next month, becoming among the first major automakers anywhere to test ride-hailing software developed in-house, using its own fleet of self-driving electric cars.&nbsp;

Easy Ride, which Nissan plans to launch in Japan in the early 2020s, is meant to feel more like a concierge service on wheels, making - for example - restaurant recommendations while the car is on the move.

The announcement follows an agreement by Nissan and its automaking partners Renault SA and Mitsubishi Motors Corp earlier this month to explore future cooperation with Chinese transportation services conglomerate Didi Chuxing.

These moves mark a push by the automaker to avoid becoming the &quot;Foxconn of the auto industry&quot;: a mere vehicle supplier to ride- and car-sharing companies.&nbsp;

&quot;We realise that its going to take time to become a service operator, but we want to enter into this segment by partnering with companies which are experts in the field,&quot; Nissan&#39;s chief executive, Hiroto Saikawa, told Reuters in an interview this month.&nbsp;

A person close to the deal has said that the agreement is intended to explore opportunities for Nissan and others to supply battery-electric cars to Didi Chuxing for a new electric car-sharing service it is setting up in China.&nbsp;

He noted, however, that Nissan and its alliance partners could explore a broader agreement, which might possibly involve Nissan providing self-driving taxi technology to the dominant Chinese ride-hailing service.

&quot;We expect that the technology that we gain (from Easy Ride) will help all companies in the alliance to improve their capabilities,&quot; said Ogi Redzic, head of connected vehicles and mobility services at the automaking group.&nbsp;

&quot;When it comes to services, we will probably have different local partners who will help bring services to their respective markets.&quot;&nbsp;

Niche Market

Creating an upscale autonomous taxi service, rather than trying to beat other companies on price, could help Nissan against bigger competitors like Uber, market experts say.

&quot;By doing something with a more premium feel, it could allow Nissan to charge more for its service and potentially relieve some of that profitability pressure they could face if they were to try to race to the bottom in terms of pricing,&quot; said Jeremy Carlson, automotive analyst at IHS Markit.

Automakers are looking for ways to profit from the rise of car-sharing services, which along with self-driving cars, are likely to lead to a decrease vehicle ownership and chip away at future profits.

IHS Markit expects global sales of autonomous vehicles will soar to more than 33 million units in 2040 from 51,000 in 2021, while Goldman Sachs has predicted that the ride-hailing market will grow eightfold by 2030 to be five times the current size of the taxi market.

Nissan has embraced new technologies, launching the Leaf, the world&#39;s first mass-market electric car, in 2010. The company was an early proponent of self-driving cars, pledging in 2013 that it would market fully autonomous cars in 2020.

Although it has been rolling out automated highway driving functions and self-parking capabilities in a growing number of its models, rivals ranging from Tesla Inc to Subaru Corp have installed increasingly advanced self-driving features in their cars.&nbsp;

General Motors and Daimler AG are building and expanding car-sharing services, and GM has said it plans to launch a self-driving taxi service next year.&nbsp;

Nissan also has its own car-sharing service using its ultra-compact battery electric models, but after years of trials, the service is available only in Yokohama, where the company is headquartered.

After bringing in Redzic in early 2016 from Here Technologies, where he led the mapping data firm&#39;s automotive business group, Nissan in the past year or so has begun to crank up efforts to compete in the new transportation area.

Its partner DeNA is one of the world&#39;s biggest social gaming networks with 30 million users. The company&#39;s expertise in developing real-time user interfaces and payment systems will help give shape to the taxi service platform.&nbsp;

DeNA already operates a user-sourced car-sharing app and has been testing self-driving shuttle buses in Japan, and had been developing a self-driving taxi system with a Japanese robotics start-up before teaming up with Nissan. 
&nbsp;

Nissan's plans to launch Easy Ride in Japan in the early 2020s

Nissan Motor Co is taking its first steps to becoming an operator of autonomous vehicle services, hoping to break into a segment set to be dominated by Uber and other technology firms. While automakers for more than a century have based their business models on individual car ownership, Japan's No.2 automaker and its rivals are now preparing for a future in which self-driving cars are anticipated to curb vehicle ownership. In partnership with Japanese mobile gaming platform operator DeNA Co, Nissan will begin public field tests of its Easy Ride service in Yokohama next month, becoming among the first major automakers anywhere to test ride-hailing software developed in-house, using its own fleet of self-driving electric cars. Easy Ride, which Nissan plans to launch in Japan in the early 2020s, is meant to feel more like a concierge service on wheels, making - for example - restaurant recommendations while the car is on the move. The announcement follows an agreement by Nissan and its automaking partners Renault SA and Mitsubishi Motors Corp earlier this month to explore future cooperation with Chinese transportation services conglomerate Didi Chuxing. These moves mark a push by the automaker to avoid becoming the "Foxconn of the auto industry": a mere vehicle supplier to ride- and car-sharing companies. "We realise that its going to take time to become a service operator, but we want to enter into this segment by partnering with companies which are experts in the field," Nissan's chief executive, Hiroto Saikawa, told Reuters in an interview this month. A person close to the deal has said that the agreement is intended to explore opportunities for Nissan and others to supply battery-electric cars to Didi Chuxing for a new electric car-sharing service it is setting up in China. He noted, however, that Nissan and its alliance partners could explore a broader agreement, which might possibly involve Nissan providing self-driving taxi technology to the dominant Chinese ride-hailing service. "We expect that the technology that we gain (from Easy Ride) will help all companies in the alliance to improve their capabilities," said Ogi Redzic, head of connected vehicles and mobility services at the automaking group. "When it comes to services, we will probably have different local partners who will help bring services to their respective markets." Niche Market Creating an upscale autonomous taxi service, rather than trying to beat other companies on price, could help Nissan against bigger competitors like Uber, market experts say. "By doing something with a more premium feel, it could allow Nissan to charge more for its service and potentially relieve some of that profitability pressure they could face if they were to try to race to the bottom in terms of pricing," said Jeremy Carlson, automotive analyst at IHS Markit. Automakers are looking for ways to profit from the rise of car-sharing services, which along with self-driving cars, are likely to lead to a decrease vehicle ownership and chip away at future profits. IHS Markit expects global sales of autonomous vehicles will soar to more than 33 million units in 2040 from 51,000 in 2021, while Goldman Sachs has predicted that the ride-hailing market will grow eightfold by 2030 to be five times the current size of the taxi market. Nissan has embraced new technologies, launching the Leaf, the world's first mass-market electric car, in 2010. The company was an early proponent of self-driving cars, pledging in 2013 that it would market fully autonomous cars in 2020. Although it has been rolling out automated highway driving functions and self-parking capabilities in a growing number of its models, rivals ranging from Tesla Inc to Subaru Corp have installed increasingly advanced self-driving features in their cars. General Motors and Daimler AG are building and expanding car-sharing services, and GM has said it plans to launch a self-driving taxi service next year. Nissan also has its own car-sharing service using its ultra-compact battery electric models, but after years of trials, the service is available only in Yokohama, where the company is headquartered. After bringing in Redzic in early 2016 from Here Technologies, where he led the mapping data firm's automotive business group, Nissan in the past year or so has begun to crank up efforts to compete in the new transportation area. Its partner DeNA is one of the world's biggest social gaming networks with 30 million users. The company's expertise in developing real-time user interfaces and payment systems will help give shape to the taxi service platform. DeNA already operates a user-sourced car-sharing app and has been testing self-driving shuttle buses in Japan, and had been developing a self-driving taxi system with a Japanese robotics start-up before teaming up with Nissan.

Easy Ride trial to mark Nissan's first stop on road to taxi services

Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters.

In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state.

According to the notice, Nissan said repeated requests to state officials for the payment, due in 2015, were overlooked and even a plea by the company&rsquo;s chairman, Carlos Ghosn, to Modi in March of last year seeking federal assistance did not yield any results.

The notice, sent by Nissan&rsquo;s lawyers in July 2016, was followed by more than a dozen meetings between federal and state officials and Nissan executives, said the person familiar with the matter, who did not want to be named as it is not public.

The federal officials, from several ministries, assured Nissan the payment would be made, and it should not bring a legal case. But, in August, Nissan gave India an ultimatum to appoint an arbitrator, the person said, adding the first arbitration hearing will be in mid-December.

A Nissan spokesman said the company was &ldquo;committed to working with the government of India toward a resolution,&rdquo; but did not elaborate.

A senior Tamil Nadu state official said the government hoped to resolve the dispute without having to go to international arbitration. &ldquo;There is no discrepancy with regard to the amount due, and we are trying hard to resolve the issue,&rdquo; the official told Reuters.

Modi&rsquo;s office did not respond to an email seeking comment.

The case, brought against India for alleged violations of its Comprehensive Economic Partnership Agreement with Japan, is the latest in a string of international arbitration proceedings against the country by investors concerned about issues ranging from retrospective taxation to payments disputes.

There are over 20 cases pending against India, among the highest against any single nation.

The dispute between Nissan and the Tamil Nadu government also shows the challenges companies face in India and how local disputes could undermine the Modi government&rsquo;s efforts to attract foreign investment and create new jobs.

Growing losses

Several automakers, including Ford and Hyundai Motor, have set up production hubs in Tamil Nadu, giving state capital Chennai the nickname; the &lsquo;Detroit of South Asia&rsquo;.

In 2008, when Nissan and its global alliance partner, French carmaker Renault, agreed to invest in setting up a car plant in Chennai, the state government promised several incentives including some tax refunds.

Over seven years, Nissan and Renault invested 61 billion rupees ($946 million) and set up a plant with annual production capacity of 480,000 vehicles, which entitled them to receive the incentives in 2015, according to the legal notice.

In that notice, Nissan&rsquo;s lawyers said the state government&rsquo;s decision to not pay was &ldquo;arbitrary&rdquo;, and Nissan has &ldquo;incurred significant and increasing losses&rdquo;.

Nissan did not specify the business impact in the 8-page notice, but said in 2008 that state incentives were critical to the project&rsquo;s viability and sustainability.

The carmaker, in its notice, is claiming 29 billion rupees in unpaid incentives and 21 billion rupees in damages, plus interest and other costs.

Nissan, which has less than a 2 percent share of India&rsquo;s passenger car market, builds and sells the Micra hatchback, Sunny sedan and Terrano sport-utility vehicle. It also sells low-cost cars under its Datsun brand.

The company spokesman said Nissan has created more than 40,000 direct and indirect jobs in India.

In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state

Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters. In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state. According to the notice, Nissan said repeated requests to state officials for the payment, due in 2015, were overlooked and even a plea by the company’s chairman, Carlos Ghosn, to Modi in March of last year seeking federal assistance did not yield any results. The notice, sent by Nissan’s lawyers in July 2016, was followed by more than a dozen meetings between federal and state officials and Nissan executives, said the person familiar with the matter, who did not want to be named as it is not public. The federal officials, from several ministries, assured Nissan the payment would be made, and it should not bring a legal case. But, in August, Nissan gave India an ultimatum to appoint an arbitrator, the person said, adding the first arbitration hearing will be in mid-December. A Nissan spokesman said the company was “committed to working with the government of India toward a resolution,” but did not elaborate. A senior Tamil Nadu state official said the government hoped to resolve the dispute without having to go to international arbitration. “There is no discrepancy with regard to the amount due, and we are trying hard to resolve the issue,” the official told Reuters. Modi’s office did not respond to an email seeking comment. The case, brought against India for alleged violations of its Comprehensive Economic Partnership Agreement with Japan, is the latest in a string of international arbitration proceedings against the country by investors concerned about issues ranging from retrospective taxation to payments disputes. There are over 20 cases pending against India, among the highest against any single nation. The dispute between Nissan and the Tamil Nadu government also shows the challenges companies face in India and how local disputes could undermine the Modi government’s efforts to attract foreign investment and create new jobs. Growing losses Several automakers, including Ford and Hyundai Motor, have set up production hubs in Tamil Nadu, giving state capital Chennai the nickname; the ‘Detroit of South Asia’. In 2008, when Nissan and its global alliance partner, French carmaker Renault, agreed to invest in setting up a car plant in Chennai, the state government promised several incentives including some tax refunds. Over seven years, Nissan and Renault invested 61 billion rupees ($946 million) and set up a plant with annual production capacity of 480,000 vehicles, which entitled them to receive the incentives in 2015, according to the legal notice. In that notice, Nissan’s lawyers said the state government’s decision to not pay was “arbitrary”, and Nissan has “incurred significant and increasing losses”. Nissan did not specify the business impact in the 8-page notice, but said in 2008 that state incentives were critical to the project’s viability and sustainability. The carmaker, in its notice, is claiming 29 billion rupees in unpaid incentives and 21 billion rupees in damages, plus interest and other costs. Nissan, which has less than a 2 percent share of India’s passenger car market, builds and sells the Micra hatchback, Sunny sedan and Terrano sport-utility vehicle. It also sells low-cost cars under its Datsun brand. The company spokesman said Nissan has created more than 40,000 direct and indirect jobs in India.

Nissan sues India over outstanding dues; seeks over $770 million

Nissan Indian launched a new version of its successful <a href="http://www.wionews.com/business-economy/nissan-leaf-upgraded-version-of-its-best-selling-car-19930">Nissan</a> Micra.

The new model called Nissan Micra Fashion Edition is priced&nbsp;at Rs 6.09 lakh (ex- showroom).

<a href="http://www.wionews.com/photos/top-cars-toyota-skoda-ford-race-to-capture-india-422" target="_blank">Also Read: Top cars: Toyota, Skoda, Ford race to capture India</a>

The limited edition model is designed&nbsp;with a slight cosmetic change retaining the mechanical features.&nbsp;

It gets its exterior and interior makeover from United Colours of Benetton.&nbsp;

Nissan Micra Fashion Edition has been launched under the tag name &quot;Runs on Fashion&quot;.

The model will continue to be powered by 1.2 litre petrol and 1.5 litre diesel engine options.

The car features a new body decals on the side and over the roof with black door mirrors with designer stripes.

Whereas the interior seat is crowned with&nbsp;Benetton-signature headrest cover.

It also features a 6.2-inch touchscreen with audio visual navigation which is&nbsp;connected through phone mirroring and NissanConnect.&nbsp;

Nissan will be offering exclusive Benetton accessories to its first 500 customers.The Nissan Connect platform will also give a three-year free service package. Owners will also have an option of extending the warranty package to 5 years.

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The limited edition model is designed?with a slight cosmetic change retaining the mechanical features

Nissan Indian launched a new version of its successful Nissan Micra. The new model called Nissan Micra Fashion Edition is priced at Rs 6.09 lakh (ex- showroom). Also Read: Top cars: Toyota, Skoda, Ford race to capture India The limited edition model is designed with a slight cosmetic change retaining the mechanical features. It gets its exterior and interior makeover from United Colours of Benetton. Nissan Micra Fashion Edition has been launched under the tag name "Runs on Fashion". The model will continue to be powered by 1.2 litre petrol and 1.5 litre diesel engine options. The car features a new body decals on the side and over the roof with black door mirrors with designer stripes. Whereas the interior seat is crowned with Benetton-signature headrest cover. It also features a 6.2-inch touchscreen with audio visual navigation which is connected through phone mirroring and NissanConnect. Nissan will be offering exclusive Benetton accessories to its first 500 customers.The Nissan Connect platform will also give a three-year free service package. Owners will also have an option of extending the warranty package to 5 years.

Nissan Micra Fashion Edition launched @ Rs 6.09 lakh

<a href="http://www.wionews.com/videos/wion-wallet-renault-nissan-chinas-dongfeng-enter-jv-to-build-electric-vehicles-4564">Nissan</a>&nbsp;revealed its new 2018 <a href="http://www.wionews.com/videos/wion-wallet-know-the-situation-of-electric-car-market-in-india-4657">electric car</a>- Nissan Leaf at a special event on Tuesday&nbsp;at a ceremony in Tokyo.

Nissan Leaf is the upgraded version of the company&#39;s earlier produced best selling Car- 2017 Leaf.

The <a href="http://www.wionews.com/photos/top-cars-toyota-skoda-ford-race-to-capture-india-422">new launch</a> is designed with intelligent driver assistance features, including ProPILOT semi autonomous driving and parking techniques.&nbsp;

The SAE level 2 feature makes car driving easier on single-lane highways.The automatic acceleration and braking maintain a distance between the car and vehicles ahead.

The new EV, with an updated body design, gives an aerodynamic look. The car is designed to make judicious use of its onboard electric battery. &nbsp;

That 40 kWh&nbsp;battery provides 150 miles of range under EPA estimates whereas 400 km or 238 miles under the less conservative Japanese rating agency standards.

The car provides three options to charge the battery. &nbsp;A 3 kW charger can charge the battery in 16 hours while it will take only 8 hours to charge using a high output 6 kW charger. &nbsp;

A quick charge option will allow it to recover 80 per cent of its charge in 40 minutes.&nbsp;

Also in 2018, an additional cost will provide a higher range, higher power performance version of the car.&nbsp;

Nissan is built with a&nbsp;&quot;revolutionary e-Pedal&quot; feature.The regenerative braking that is applied when the pedals are released&nbsp;allows single pedal driving and returns energy to the battery. The car will begin to accelerate when the pedal is kept down.&nbsp;

The car&#39;s interior is adorned with a 7-inch full-colour TFT touchscreen display featuring the new Safety Shield tech. The display shows what is going on around the car.&nbsp;

Nissan Leaf is expected to go on sale on October 2 in Japan. The deliveries are said to begin in January 2018 in the US, Canada, and Europe.&nbsp;

The Japanese company&#39;s up gradation of the existing car with better, stronger battery and longer range is said to be available at a price below the rival electric cars.&nbsp;

The company had introduced the Leaf in 2010 which emerged as the world&#39;s best selling Electric vehicle. However, it lost its fame after the release of new cars from<a href="http://www.wionews.com/science-tech/tesla-seeks-115-billion-to-help-fuel-model-3-launch-13449"> Tesla</a> and Chevy.

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Nissan?revealed its new 2018 electric car- Nissan Leaf at a special event on Tuesday at a ceremony in Tokyo

Nissan revealed its new 2018 electric car- Nissan Leaf at a special event on Tuesday at a ceremony in Tokyo. Nissan Leaf is the upgraded version of the company's earlier produced best selling Car- 2017 Leaf. The new launch is designed with intelligent driver assistance features, including ProPILOT semi autonomous driving and parking techniques. The SAE level 2 feature makes car driving easier on single-lane highways.The automatic acceleration and braking maintain a distance between the car and vehicles ahead. The new EV, with an updated body design, gives an aerodynamic look. The car is designed to make judicious use of its onboard electric battery. That 40 kWh battery provides 150 miles of range under EPA estimates whereas 400 km or 238 miles under the less conservative Japanese rating agency standards. The car provides three options to charge the battery. A 3 kW charger can charge the battery in 16 hours while it will take only 8 hours to charge using a high output 6 kW charger. A quick charge option will allow it to recover 80 per cent of its charge in 40 minutes. Also in 2018, an additional cost will provide a higher range, higher power performance version of the car. Nissan is built with a "revolutionary e-Pedal" feature.The regenerative braking that is applied when the pedals are released allows single pedal driving and returns energy to the battery. The car will begin to accelerate when the pedal is kept down. The car's interior is adorned with a 7-inch full-colour TFT touchscreen display featuring the new Safety Shield tech. The display shows what is going on around the car. Nissan Leaf is expected to go on sale on October 2 in Japan. The deliveries are said to begin in January 2018 in the US, Canada, and Europe. The Japanese company's up gradation of the existing car with better, stronger battery and longer range is said to be available at a price below the rival electric cars. The company had introduced the Leaf in 2010 which emerged as the world's best selling Electric vehicle. However, it lost its fame after the release of new cars from Tesla and Chevy.

First look: Nissan Leaf

Nissan Motor plans to launch driverless ride-hailing and ride-sharing services in coming years, as the automaker looks beyond making and selling cars to survive an industry being quickly transformed by new services.

Automakers are leveraging expertise in automated driving functions for mass-market cars to develop mobility services, as they compete with tech firms such as Alphabet and Uber Technologies in the fast-growing &quot;pay-per-ride&quot; market which threatens to hit demand for car ownership.

Ogi Redzic, head of Nissan-Renault&#39;s Connected Vehicles and Mobility Services division, said the alliance would begin self-driving services based on its electric cars &quot;certainly within 10 years,&quot; though not likely before 2020.

&quot;We think that the big opportunity for us is in automation, electric vehicles and ride-sharing and hailing together,&quot; Redzic said in an interview.

Nissan and Renault SA join a small group of automakers aiming to enter the ride-hailing market, which Goldman Sachs last month estimated would grow eightfold by 2030 to be five times the size of the taxi market.

Redzic said the Japanese and French partners were testing self-driving vehicles, and that any service would run on pre-mapped courses with predetermined pick-up and drop-off points.

The two automakers are developing the system with Japanese game software maker DeNA and French public transport operator Transdev SA.

German rival BMW AG is also testing autonomous vehicles for use in ride-hailing services, while Uber has been developing a self-driving technology.

US tech firm nuTonomy and ride services company Lyft, which counts General Motors as a major shareholder, this month announced they would begin piloting an autonomous vehicle ride-hailing service in Boston.

Redzic said to market a self-driving service, regulations need to change to allow driverless cars on roads. At the moment, most global jurisdictions do not expressly authorise vehicles to operate on regular roads without a driver.

&quot;It doesn&#39;t just depend on us,&quot; he said. &quot;To become fully driverless you need laws to change.&quot;

The automaker looks beyond making and selling cars to survive an industry being quickly transformed by new services

Nissan Motor plans to launch driverless ride-hailing and ride-sharing services in coming years, as the automaker looks beyond making and selling cars to survive an industry being quickly transformed by new services. Automakers are leveraging expertise in automated driving functions for mass-market cars to develop mobility services, as they compete with tech firms such as Alphabet and Uber Technologies in the fast-growing "pay-per-ride" market which threatens to hit demand for car ownership. Ogi Redzic, head of Nissan-Renault's Connected Vehicles and Mobility Services division, said the alliance would begin self-driving services based on its electric cars "certainly within 10 years," though not likely before 2020. "We think that the big opportunity for us is in automation, electric vehicles and ride-sharing and hailing together," Redzic said in an interview. Nissan and Renault SA join a small group of automakers aiming to enter the ride-hailing market, which Goldman Sachs last month estimated would grow eightfold by 2030 to be five times the size of the taxi market. Redzic said the Japanese and French partners were testing self-driving vehicles, and that any service would run on pre-mapped courses with predetermined pick-up and drop-off points. The two automakers are developing the system with Japanese game software maker DeNA and French public transport operator Transdev SA. German rival BMW AG is also testing autonomous vehicles for use in ride-hailing services, while Uber has been developing a self-driving technology. US tech firm nuTonomy and ride services company Lyft, which counts General Motors as a major shareholder, this month announced they would begin piloting an autonomous vehicle ride-hailing service in Boston. Redzic said to market a self-driving service, regulations need to change to allow driverless cars on roads. At the moment, most global jurisdictions do not expressly authorise vehicles to operate on regular roads without a driver. "It doesn't just depend on us," he said. "To become fully driverless you need laws to change."

Nissan plans driverless ride-hailing service

Japanese automobile manufacturer Nissan slashed prices of its mid-sized sedan Sunny in India by up to Rs 1.99 lakh, citing better localisation.

Sunny will be now available at a starting price of Rs 6.99 lakh going up to Rs 8.99 lakh (ex-showroom Delhi), Nissan Motor India Pvt Ltd (NMIPL) said in a statement.

Under the new prices, petrol variant of Sunny will now cost Rs 6.99 lakh, a cut of Rs 1.01 lakh, while the top-end automatic transmission variant is tagged at Rs 8.99 lakh, a reduction of Rs 1.99 lakh.

Similarly, the base variant of diesel option will see a price cut of Rs 1.31 lakh. It is now priced at Rs 7.49 lakh. The top-end variant is now cheaper by Rs 94,000 at Rs 8.99 lakh (all prices ex-showroom Delhi).

Commenting on the price cut, NMIPL Managing Director Arun Malhotra said, &quot;Local production of this car enables significantly lower costs...We pass on these benefits to our customers with very competitive prices for the Nissan Sunny, our popular premium sedan.&quot;

Last year, the company had slashed prices of automatic transmission variant of its premium hatchback Micra in India by up to Rs 54,252 on the back of increased parts localisation.

(PTI)

Sunny will be now available at a starting price of Rs 6.99 lakh going up to Rs 8.99 lakh (ex-showroom Delhi)

Japanese automobile manufacturer Nissan slashed prices of its mid-sized sedan Sunny in India by up to Rs 1.99 lakh, citing better localisation. Sunny will be now available at a starting price of Rs 6.99 lakh going up to Rs 8.99 lakh (ex-showroom Delhi), Nissan Motor India Pvt Ltd (NMIPL) said in a statement. Under the new prices, petrol variant of Sunny will now cost Rs 6.99 lakh, a cut of Rs 1.01 lakh, while the top-end automatic transmission variant is tagged at Rs 8.99 lakh, a reduction of Rs 1.99 lakh. Similarly, the base variant of diesel option will see a price cut of Rs 1.31 lakh. It is now priced at Rs 7.49 lakh. The top-end variant is now cheaper by Rs 94,000 at Rs 8.99 lakh (all prices ex-showroom Delhi). Commenting on the price cut, NMIPL Managing Director Arun Malhotra said, "Local production of this car enables significantly lower costs...We pass on these benefits to our customers with very competitive prices for the Nissan Sunny, our popular premium sedan." Last year, the company had slashed prices of automatic transmission variant of its premium hatchback Micra in India by up to Rs 54,252 on the back of increased parts localisation. (PTI)

Nissan India slashes Sunny sedan prices by up to Rs 1.99 lakh

Japanese auto major Nissan launched an all new version of its SUV Terrano, which is priced between Rs 9.99 lakh and Rs 13.6 lakh (ex-showroom Delhi).

The company will also launch hybrid version of its top-end SUV XTrail by the end of this year as it looks to enhance portfolio in the fast growing SUV segment in India.

Besides, the company is targeting sports hatchback and executive sedans segment as part of its plans to launch eight new vehicles in India by 2021.

&quot;We have interesting products lined up for India as per our plans announced earlier. This year apart from the new Terrano we will have the hybrid XTrail by the end of 2017,&quot; Nissan India Operations President Guillaume Sicard (rpt) Sicard told PTI.

He said India will be among the very few global markets where the hybrid XTrail will be launched as the company&#39;s &quot;top management decided to bring the eco-friendly model considering the significance of the market here&quot;.

While there will be other updates on Datsun models this year, the Nissan brand will focus on consolidation of the SUV range.

&quot;From next year we will have many exciting products as we have said we will launch eight new products by 2021. We are looking at sporty premium hatchback segment,&quot; Sicard said.

&quot;We also believe there is scope for a good roomy sedan. Overall we are targeting not just the SUV segment but also others in the Indian market,&quot; he added.

On the new Terrano, he said the fourth generation vehicle comes with 22 new features compared with the previous one, including enhanced safety features like electronic stability programme, touch screen navigation and hill ascent assist.

&quot;Globally Nissan is known for its SUV lineage such as the Patrol, Qashqai and the Murano. The new Terrano continues that heritage into India targeting young and successful customers who are well travelled internationally,&quot; he added.

The Nissan Terrano competes with alliance partner Renault&#39;s Duster and Hyundai Creta which are priced between Rs 8.65 lakh and Rs 14.61 lakh (ex-showroom Delhi). Nissan had launched the Terrano in India in 2013.

Nissan aims to increase its car market share in India from 2 per cent at present to 5 per cent by 2021 through new product launches under its Nissan and Datsun brands.

(PTI)

The new car is priced between Rs 9.99 lakh and Rs 13.6 lakh

Japanese auto major Nissan launched an all new version of its SUV Terrano, which is priced between Rs 9.99 lakh and Rs 13.6 lakh (ex-showroom Delhi). The company will also launch hybrid version of its top-end SUV XTrail by the end of this year as it looks to enhance portfolio in the fast growing SUV segment in India. Besides, the company is targeting sports hatchback and executive sedans segment as part of its plans to launch eight new vehicles in India by 2021. "We have interesting products lined up for India as per our plans announced earlier. This year apart from the new Terrano we will have the hybrid XTrail by the end of 2017," Nissan India Operations President Guillaume Sicard (rpt) Sicard told PTI. He said India will be among the very few global markets where the hybrid XTrail will be launched as the company's "top management decided to bring the eco-friendly model considering the significance of the market here". While there will be other updates on Datsun models this year, the Nissan brand will focus on consolidation of the SUV range. "From next year we will have many exciting products as we have said we will launch eight new products by 2021. We are looking at sporty premium hatchback segment," Sicard said. "We also believe there is scope for a good roomy sedan. Overall we are targeting not just the SUV segment but also others in the Indian market," he added. On the new Terrano, he said the fourth generation vehicle comes with 22 new features compared with the previous one, including enhanced safety features like electronic stability programme, touch screen navigation and hill ascent assist. "Globally Nissan is known for its SUV lineage such as the Patrol, Qashqai and the Murano. The new Terrano continues that heritage into India targeting young and successful customers who are well travelled internationally," he added. The Nissan Terrano competes with alliance partner Renault's Duster and Hyundai Creta which are priced between Rs 8.65 lakh and Rs 14.61 lakh (ex-showroom Delhi). Nissan had launched the Terrano in India in 2013. Nissan aims to increase its car market share in India from 2 per cent at present to 5 per cent by 2021 through new product launches under its Nissan and Datsun brands. (PTI)

Nissan launches new version of Terrano SUV in India

Nissan on Wednesday rolled out new features that will let one of its minivans handle some driving on its own, as a similar system made by US-based Tesla is probed over crashes. 
 
Japan&#39;s number-two automaker said its ProPilot system was designed to let its newest Serena model accelerate, brake, and navigate bumper-to-bumper highway traffic in a single lane. 
 
The technology, which relies on an internal camera to gauge the vehicle&#39;s location, will be available in the minivan next month. 
 
But Nissan warned it was still some way off its goal to put fully self-driving cars on the road by 2020&nbsp;when Tokyo hosts the summer Olympics. 
 
Automakers are focused on creating fully autonomous cars, which would allow drivers to read, watch a movie, or even send emails, but the idea has sparked safety concerns. 
 
Japanese firms, including Nissan and rivals Toyota and Honda, have been taking a gradual approach, focusing on aspects such as self-parking and crash-avoidance technology. 
 
&quot;The point is it&#39;s not fully autonomous driving, but driver assistance technology, so it can&#39;t handle everything for you,&quot; Hideyuki Sakamoto, a Nissan executive vice president, told reporters on Wednesday. 
 
The rollout came as US highway safety officials investigate two crashes, including a fatal accident, involving cars made by Tesla that may have been operating on its pioneering self-drive Autopilot technology. 
 
Tesla boss Elon Musk has defended the company&#39;s technology -- the most advanced driver-assist system currently available to consumers -- as on the balance safer than regular cars. 
 
But worries have mounted that the feature has faults, including not being able to recognise cars halted on the road, and that drivers are being lulled into a false sense of safety and not watching the road. 
 
(AFP)

The system is designed to let its minivan, Serena accelerate, brake, and navigate bumper-to-bumper highway traffic in a single lane

Nissan on Wednesday rolled out new features that will let one of its minivans handle some driving on its own, as a similar system made by US-based Tesla is probed over crashes. Japan's number-two automaker said its ProPilot system was designed to let its newest Serena model accelerate, brake, and navigate bumper-to-bumper highway traffic in a single lane. The technology, which relies on an internal camera to gauge the vehicle's location, will be available in the minivan next month. But Nissan warned it was still some way off its goal to put fully self-driving cars on the road by 2020 when Tokyo hosts the summer Olympics. Automakers are focused on creating fully autonomous cars, which would allow drivers to read, watch a movie, or even send emails, but the idea has sparked safety concerns. Japanese firms, including Nissan and rivals Toyota and Honda, have been taking a gradual approach, focusing on aspects such as self-parking and crash-avoidance technology. "The point is it's not fully autonomous driving, but driver assistance technology, so it can't handle everything for you," Hideyuki Sakamoto, a Nissan executive vice president, told reporters on Wednesday. The rollout came as US highway safety officials investigate two crashes, including a fatal accident, involving cars made by Tesla that may have been operating on its pioneering self-drive Autopilot technology. Tesla boss Elon Musk has defended the company's technology -- the most advanced driver-assist system currently available to consumers -- as on the balance safer than regular cars. But worries have mounted that the feature has faults, including not being able to recognise cars halted on the road, and that drivers are being lulled into a false sense of safety and not watching the road. (AFP)

Nissan rolls out ProPilot auto drive system

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