Renault's board (RENA.PA) voted in favour to reshape the French carmaker's alliance with its Japanese partner Nissan (7201.T). Watch video to know more.

Renault board backs plans to reshape alliance with Nissan

The French carmaker Renault is reportedly looking up to build a mass-market electric vehicle in India. Watch this video to know more.

Renault considers making mass-market EVs in India

Jaguar Land Rover CEO Thierry Bollore has resigned, JLR had appointed Bollore as the CEO in 2020. It was done in a bid to return UK's biggest automaker to profit after it took a big hit from the pandemic. Prior to this Bellore was the CEO of Renault.

World Business Watch: Jaguar Land Rover CEO Thierry Bollore resigns

On Tuesday, the Japanese car manufacturing company, Nissan Motor Co Ltd said that they sold their business in Russia, Nissan Manufacturing Russia LLC to state-owned entity NAMI for one euro ($0.97), incurring a loss of at least $687 million.&nbsp;

This comes months after the company was forced to shut down production in Moscow following the Russian invasion of Ukraine.&nbsp;

On the other hand, Russia’s Ministry of Industry and Trade indicated that the Japanese company will transfer its shares to the state-owned entity and the deal allows the Japanese car manufacturing company to have the right to buy the business back within six years.

This move adds Nissan to the long list of companies that exited Moscow amid the ongoing invasion.&nbsp; 
 
ALSO READ:&nbsp;<a href="https://www.wionews.com/world/ex-nissan-executive-greg-kelly-found-guilty-of-underreporting-ghosns-pay-gets-six-months-in-prison-458524">Ex-Nissan executive Greg Kelly found guilty of underreporting Ghosn's pay, gets six months in prison</a>

The sale to NAMI also includes Nissan’s production and research facilities based in St Petersburg as well as the sales and marketing centre in Moscow, said the report by Reuters. This deal was “of great significance for the industry,” said the Russian trade minister Denis Manturov in a statement.

According to Nissan, the production in the St Petersburg plant was halted in March itself due to supply chain issues but the local unit had since continued to monitor the situation. However, there was “no visibility” of change in the external environment which prompted the company’s exit, they added.&nbsp;

The Japanese car manufacturing company also said it expected a loss of at least 100 billion yen ($687 million) but reportedly did not change its earnings forecast for the financial year ending in March, said the report. However, Renault which owns nearly 43% of Nissan said that this decision would lead to a hit of at least 331 million euros to its net income in the second half of 2022.&nbsp; 
 
ALSO READ:&nbsp;<a href="https://www.wionews.com/world/nissan-wants-partner-renault-to-cut-down-its-stake-523487">Nissan wants partner Renault to cut down its stake</a>

This is also being compared to Nissan’s top shareholder, the French automaker, Renault’s move which also sold a majority of its stake to the Russian carmaker Avtovaz, earlier this year, in May. Notably, this also comes as the two companies, on Monday, said that Nissan was considering investing in the new electric vehicle venture by Renault.&nbsp;

(With inputs from agencies)&nbsp; 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

On Tuesday, the Japanese car manufacturing company, Nissan Motor Co Ltd said that they sold their business in Russia, Nissan Manufacturing Russia LLC to state-owned entity NAMI for one euro ($0.

On Tuesday, the Japanese car manufacturing company, Nissan Motor Co Ltd said that they sold their business in Russia, Nissan Manufacturing Russia LLC to state-owned entity NAMI for one euro ($0.97), incurring a loss of at least $687 million. This comes months after the company was forced to shut down production in Moscow following the Russian invasion of Ukraine. On the other hand, Russia’s Ministry of Industry and Trade indicated that the Japanese company will transfer its shares to the state-owned entity and the deal allows the Japanese car manufacturing company to have the right to buy the business back within six years. This move adds Nissan to the long list of companies that exited Moscow amid the ongoing invasion. ALSO READ: Ex-Nissan executive Greg Kelly found guilty of underreporting Ghosn's pay, gets six months in prison The sale to NAMI also includes Nissan’s production and research facilities based in St Petersburg as well as the sales and marketing centre in Moscow, said the report by Reuters. This deal was “of great significance for the industry,” said the Russian trade minister Denis Manturov in a statement. According to Nissan, the production in the St Petersburg plant was halted in March itself due to supply chain issues but the local unit had since continued to monitor the situation. However, there was “no visibility” of change in the external environment which prompted the company’s exit, they added. The Japanese car manufacturing company also said it expected a loss of at least 100 billion yen ($687 million) but reportedly did not change its earnings forecast for the financial year ending in March, said the report. However, Renault which owns nearly 43% of Nissan said that this decision would lead to a hit of at least 331 million euros to its net income in the second half of 2022. ALSO READ: Nissan wants partner Renault to cut down its stake This is also being compared to Nissan’s top shareholder, the French automaker, Renault’s move which also sold a majority of its stake to the Russian carmaker Avtovaz, earlier this year, in May. Notably, this also comes as the two companies, on Monday, said that Nissan was considering investing in the new electric vehicle venture by Renault. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Japanese automaker Nissan sells its Russian assets for less than a dollar

Nissan Motor Co Ltd is looking to restructure its more than 20-year-old alliance with Renault, and has asked the French car firm to cut its stake in the Japanese automaker, the Wall Street Journal reported on Friday. Renault owns about 43 per cent of Nissan, while the Japanese firm owns 15 per cent of its top shareholder, minus the voting rights.

In June, Nissan had for the first time revealed that its alliance pact with top shareholder Renault keeps the latter from unilaterally increasing its stake beyond 44.4 per cent.&nbsp;

Their talks cover the question of whether Nissan will join Renault's new unit being set up for electric vehicle (EV) assets in exchange for its French ally winding down the Nissan stake, the paper said.

The paper further informed that Nissan's Chief Operating Officer Ashwani Gupta, who was one of the firm's executives to visit France last month, had discussed whether the Japanese car maker would invest in Renault's new EV business.

Renault is trying to match up to its competitors, such as Tesla and Volkswagen, in the race for clean driving by planning to split its EV and combustion engine businesses. It expects to unveil a detailed blueprint for the new EV entity this autumn. 
&nbsp;

(With inputs from agencies)

&nbsp;

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Nissan Motor Co Ltd is looking to restructure its more than 20-year-old alliance with Renault, and has asked the French car firm to cut its stake in the Japanese automaker, the Wall Street Journal reported on Friday.

Nissan Motor Co Ltd is looking to restructure its more than 20-year-old alliance with Renault, and has asked the French car firm to cut its stake in the Japanese automaker, the Wall Street Journal reported on Friday. Renault owns about 43 per cent of Nissan, while the Japanese firm owns 15 per cent of its top shareholder, minus the voting rights. In June, Nissan had for the first time revealed that its alliance pact with top shareholder Renault keeps the latter from unilaterally increasing its stake beyond 44.4 per cent. Their talks cover the question of whether Nissan will join Renault's new unit being set up for electric vehicle (EV) assets in exchange for its French ally winding down the Nissan stake, the paper said. The paper further informed that Nissan's Chief Operating Officer Ashwani Gupta, who was one of the firm's executives to visit France last month, had discussed whether the Japanese car maker would invest in Renault's new EV business. Renault is trying to match up to its competitors, such as Tesla and Volkswagen, in the race for clean driving by planning to split its EV and combustion engine businesses. It expects to unveil a detailed blueprint for the new EV entity this autumn. (With inputs from agencies)

Nissan wants partner Renault to cut down its stake

Nissan Motor is pressing partner Renault to cut its stake in the Japanese automaker and revamp their more than 20-year-old alliance, citing people with knowledge of the talks.

Reports: Nissan presses partner Renault to sell down stake

Renault CEO Luca de Meo warns of a global recession. He said the business world was bracing for a possible recession, adding that the French carmaker is strong enough to be able to weather that "storm."

World Business Watch: Renault CEO Luca de Meo warns of a global recession

Shares of Nissan dropped 4% in early trade on Monday, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker.

Renault exploring Nissan stake sale: Reports

Key events in the development of battery swapping since the Gilded Age

Latest to enter electric car race could be French-Japanese auto alliance Renault–Nissan–Mitsubishi motors. The companies plan to triple their investment to jointly develop electric vehicles reports say established automakers are facing pressure from new competitors and an expected shift in demand towards electric vehicles.

Renault, Nissan, Mitsubishi to unveil 2030 EV plan soon

The venture would focus on China and South Korea initially but would likely to be expanded to cover fast-growing Asian markets.

Renault to explore hybrid vehicles with Geely

French carmaker Renault said on Monday, it had sealed partnerships with China's Envision AESC and France's Verkor to produce electric car batteries in northern France. 
 
Carmakers globally are racing to keep ahead of rivals in producing cleaner vehicles, a technology shift that is already prompting Germany's Volkswagen to build six battery cell plants of its own in Europe. 
 
Renault made the announcement, which confirmed earlier media reports, before a visit of President Emanuel Macron to the Douai site in northern France where Envision is investing up to 2 billion euros ($2.4 billion) close to 'Renault ElectriCity' electric car hub to create 2,500 new jobs by 2030. 
 
Renault also said it signed a memorandum of understanding with the French start-up Verkor to co-develop and then manufacture high-performance batteries, with a view to owning a more than 20% stake in Verkor. 
 
"The combination of these two partnerships with Renault ElectriCity will create nearly 4,500 direct jobs in France by 2030, while developing a robust battery manufacturing ecosystem in the heart of Europe," the statement said. 
 
Envision AESC's gigafactory in Douai will have a capacity of 9 gigawatt hours (GWh) in 2024 and with aim of reaching 24 GWh by 2030. 
 
The proximity of the Envision AESC’s gigafactory to Renault ElectriCity production sites at Douai, Maubeuge and Ruitz, will create 700 additional jobs in the Hauts-de-France region. 
 
(With inputs from agencies)

French carmaker Renault said on Monday, it had sealed partnerships with China's Envision AESC and France's Verkor to produce electric car batteries in northern France.

French carmaker Renault said on Monday, it had sealed partnerships with China's Envision AESC and France's Verkor to produce electric car batteries in northern France. Carmakers globally are racing to keep ahead of rivals in producing cleaner vehicles, a technology shift that is already prompting Germany's Volkswagen to build six battery cell plants of its own in Europe. Renault made the announcement, which confirmed earlier media reports, before a visit of President Emanuel Macron to the Douai site in northern France where Envision is investing up to 2 billion euros ($2.4 billion) close to 'Renault ElectriCity' electric car hub to create 2,500 new jobs by 2030. Renault also said it signed a memorandum of understanding with the French start-up Verkor to co-develop and then manufacture high-performance batteries, with a view to owning a more than 20% stake in Verkor. "The combination of these two partnerships with Renault ElectriCity will create nearly 4,500 direct jobs in France by 2030, while developing a robust battery manufacturing ecosystem in the heart of Europe," the statement said. Envision AESC's gigafactory in Douai will have a capacity of 9 gigawatt hours (GWh) in 2024 and with aim of reaching 24 GWh by 2030. The proximity of the Envision AESC’s gigafactory to Renault ElectriCity production sites at Douai, Maubeuge and Ruitz, will create 700 additional jobs in the Hauts-de-France region. (With inputs from agencies)

Renault seals electric car battery deals with Envision, Verkor

French carmaker Renault said that it had been charged by prosecutors over claims it cheated on emission tests for diesel vehicles for several years, a scandal that has rocked rivals across the industry.

World Business Watch: Renault charged with 'deceit' in diesel emissions inquiry

Renault's current stake is worth over $1.41 Billion and Renault Group has announced that it plans to sell off its entire stake in Germany's Daimler AG to drive forward the deleveraging of its automotive business.

World Business Watch: Renault To Sell Stake In Germany's Daimler

Formula One teams Renault and Ferrari have voiced their opposition to a freeze of F1's engine regulations from 2022 that would enable Red Bull to take on Honda's power unit once the Japanese manufacturer leave.

Also read:&nbsp;<a href="https://www.wionews.com/sports/valterri-bottas-snatches-pole-from-lewis-hamilton-as-f1-returns-to-imola-339300" hreflang="en">Valterri Bottas snatches pole from Lewis Hamilton as F1 returns to Imola</a>

According to Red Bull boss Christian Horner, the preferred option is to take on the Honda power unit but the regulations would need to be frozen to make that affordable.

Mercedes, the dominant force in Formula One, have been supportive but Renault's Cyril Abiteboul said on Saturday it was a non-starter.

"I am against freezing the engines. We have no intention to stop what could be a very important platform for us. We do not accept it," the Frenchman said ahead of the Emilia Romagna Grand Prix at Italy's Imola circuit.

"We are in favour of talking about medium to long term plans for the engines of the future, but certainly not about freezing the power units."

Ferrari chief executive Louis Camilleri told La Gazzetta Dello Sport this week that freezing the power units went against the spirit of Formula One.

"From 2022, the regulations provide for the introduction of a fuel with a 10 per cent ethanol content, but the FIA wants to reach 100 per cent as soon as possible," he added.

"This inevitably involves the development of some engine components."

(Inputs from Reuters)

Formula One teams Renault and Ferrari have voiced their opposition to a freeze of F1's engine regulations from 2022 that would enable Red Bull to take on Honda's power unit once the Japanese manufacturer leave.

Formula One teams Renault and Ferrari have voiced their opposition to a freeze of F1's engine regulations from 2022 that would enable Red Bull to take on Honda's power unit once the Japanese manufacturer leave. Also read: Valterri Bottas snatches pole from Lewis Hamilton as F1 returns to Imola According to Red Bull boss Christian Horner, the preferred option is to take on the Honda power unit but the regulations would need to be frozen to make that affordable. Mercedes, the dominant force in Formula One, have been supportive but Renault's Cyril Abiteboul said on Saturday it was a non-starter. "I am against freezing the engines. We have no intention to stop what could be a very important platform for us. We do not accept it," the Frenchman said ahead of the Emilia Romagna Grand Prix at Italy's Imola circuit. "We are in favour of talking about medium to long term plans for the engines of the future, but certainly not about freezing the power units." Ferrari chief executive Louis Camilleri told La Gazzetta Dello Sport this week that freezing the power units went against the spirit of Formula One. "From 2022, the regulations provide for the introduction of a fuel with a 10 per cent ethanol content, but the FIA wants to reach 100 per cent as soon as possible," he added. "This inevitably involves the development of some engine components." (Inputs from Reuters)

'We do not accept it': Renault and Ferrari oppose Red Bull's engine freeze call

Renault acknowledged that its global ambitions had been unrealistic, announcing plans to cut about 15,000 jobs, shrink production and restructure French plants as it pressed the reset button and sought to banish the spectre of Carlos Ghosn.

Renault to lay-off 15,000 people globally | COVID-19 crisis

Renault & Nissan announce job cuts, Renault to lay-off 15,000 people globally. Watch this report!

Renault & Nissan announce job cuts, Renault to lay-off 15,000 people globally

French carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save 2 billion euros ($2.2 billion) in costs

Your Story: French carmaker Renault could close plants and cut jobs

<div>Lawyers for <a href="https://www.wionews.com/business-economy/michael-ovitz-to-work-with-carlos-ghosn-escape-of-the-century-may-appear-on-big-screens-280073">Carlos Ghosn </a>on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer <a href="https://www.wionews.com/business-economy/michael-ovitz-to-work-with-carlos-ghosn-escape-of-the-century-may-appear-on-big-screens-280073">Renault</a>, saying the French carmaker had not given them enough time to prepare arguments.</div>

<div>&nbsp;</div>

<div>The court in Boulogne-Billancourt, near Renault's headquarters outside Paris, granted the request for more time, setting a new hearing date for April 17.</div>

<div>&nbsp;</div>

<div>"We received Renault's arguments only on Monday, and having just four days to respond to 20 pages of arguments is clearly not enough," Ghosn's lawyer Laetitia Ternisien told reporters after the hearing.</div>

<div>
Also read: <a href="https://www.wionews.com/business-economy/michael-ovitz-to-work-with-carlos-ghosn-escape-of-the-century-may-appear-on-big-screens-280073">Michael Ovitz to work with Carlos Ghosn; escape of the century may appear on big screens</a>

Ghosn is seeking a 250,000 retirement payout, which Renault refuses to pay because it says the former CEO was forced to quit after his shock November 2018 arrest in Japan on charges of financial misconduct.
</div>

<div>The former industry titan claims he retired in due form on his own accord.</div>

<div>&nbsp;</div>

<div>He also seeks a much bigger prize a supplementary pension of 774,774 euros per year for the rest of his life, as well as 380,000 shares granted for reaching performance targets.</div>

<div>&nbsp;</div>

<div>At current prices, that stock grant would be worth over 12 million euros.</div>

<div>
Also read: <a href="https://www.wionews.com/world/japanenese-lawyers-of-former-nissan-chief-carlos-ghusn-quit-after-he-flees-274630">Japanese lawyers of ex-Nissan chief Carlos Ghosn quit after he flees</a>

Meanwhile, Ghosn also faces a French inquiry over two parties he threw at the Palace of Versailles, including his opulent 2016 wedding, allegedly financed in part by Renault funds.
</div>

<div>He is also being investigated by France's tax fraud office over suspicious financial transactions between Renault and its distributor in the Gulf state of Oman, and over contracts signed by Renault and Nissan's Dutch subsidiary RNBV.</div>

<div>&nbsp;</div>

<div>In Japan, he still faces multiple charges claiming he under-reported millions of dollars in salary as chairman of Renault's alliance partner Nissan.</div>

<div>&nbsp;</div>

<div>He has denied all the charges, but fled to his native Lebanon late last year before he could face trial.</div>

Lawyers for Carlos Ghosn on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer Renault, saying the French carmaker had not given them enough time to prepare arguments.

Lawyers for Carlos Ghosn on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer Renault, saying the French carmaker had not given them enough time to prepare arguments. The court in Boulogne-Billancourt, near Renault's headquarters outside Paris, granted the request for more time, setting a new hearing date for April 17. "We received Renault's arguments only on Monday, and having just four days to respond to 20 pages of arguments is clearly not enough," Ghosn's lawyer Laetitia Ternisien told reporters after the hearing. Also read: Michael Ovitz to work with Carlos Ghosn; escape of the century may appear on big screens Ghosn is seeking a 250,000 retirement payout, which Renault refuses to pay because it says the former CEO was forced to quit after his shock November 2018 arrest in Japan on charges of financial misconduct. The former industry titan claims he retired in due form on his own accord. He also seeks a much bigger prize a supplementary pension of 774,774 euros per year for the rest of his life, as well as 380,000 shares granted for reaching performance targets. At current prices, that stock grant would be worth over 12 million euros. Also read: Japanese lawyers of ex-Nissan chief Carlos Ghosn quit after he flees Meanwhile, Ghosn also faces a French inquiry over two parties he threw at the Palace of Versailles, including his opulent 2016 wedding, allegedly financed in part by Renault funds. He is also being investigated by France's tax fraud office over suspicious financial transactions between Renault and its distributor in the Gulf state of Oman, and over contracts signed by Renault and Nissan's Dutch subsidiary RNBV. In Japan, he still faces multiple charges claiming he under-reported millions of dollars in salary as chairman of Renault's alliance partner Nissan. He has denied all the charges, but fled to his native Lebanon late last year before he could face trial.

Carlos Ghosn postpones suit seeking retirement pay from Renault

Many big brands like Hyundai, Renault and Kia are planning to shut down their factories in South Korea and China due to the fears of coronavirus's outbreak. What will be the impact on the Chinese economy? Political analyst Dr. Robert Edwin Kelly explains

Virus takes a toll on South Korean factories

The partnership between <a href="https://www.wionews.com/business-economy/renault-nissan-alliance-in-flux-a-year-after-ghosn-shock-262664">Renault</a> and Nissan is "not dead", the alliance's president has insisted, after reports of a potential split in the wake of the Carlos Ghosn scandal.

Jean-Dominique Senard said that reports <a href="https://www.wionews.com/business-economy/japanese-auto-major-nissan-orders-drastic-spending-cuts-271085">Nissan</a> is mulling plans for a possible break-away had "no connection to the current situation of the alliance".

"The Renault-Nissan alliance is not dead! Soon we will show you why," he said in an interview with Belgian daily L'Echo published Tuesday.

"I ask myself, where does this sort of information come from? I am not sure it comes from a place of goodwill," Senard said.

Britain's Financial Times, citing "several people with knowledge of the matter", said on Monday that senior executives at the scandal-hit Japanese automaker were speeding up work on secret plans for a potential divorce with French partner Renault.

In early trading in Tokyo on Tuesday, Nissan fell 1.77 percent, while Renault stocks finished 2.8 percent lower in Paris.

The reports come after former alliance chief <a href="https://www.wionews.com/world/carlos-ghosn-rearrested-in-japan-over-fresh-allegations-185576">Ghosn</a> jumped bail and fled Japan, where he was awaiting trial on financial misconduct charges.

His shock arrival in his native Lebanon prompted outrage from the Japanese government as well as from Nissan.

Ghosn alleges the charges against him were cooked up by disgruntled Nissan executives opposed to his plans to more closely align the Japanese firm with its French partner.

At a press conference in Lebanon last week, he slammed the state of the alliance he once led, saying it had been gutted and left directionless.

The 20-year partnership between <a href="https://www.wionews.com/business-economy/renault-nissan-to-work-with-googles-waymo-on-driverless-cars-report-195389">Nissan and Renault</a>, whose alliance is based on cross-shareholdings without a joint structure, has been badly shaken by the scandal.

But Senard said the alliance was "nowhere near" the point of collapse and insisted its leaders were busy "recreating its original spirit" and planning future investments.

On Tuesday, a Nissan spokeswoman declined to comment, saying: "We don't comment on speculation."

A source close to the company told AFP the leaks probably came from "a few disgruntled souls" inside Nissan who wanted to "vent their frustration", adding that rebuilding trust between the two firms "will take time".

The partnership between Renault and Nissan is "not dead", the alliance's president has insisted, after reports of a potential split in the wake of the Carlos Ghosn scandal.

The partnership between Renault and Nissan is "not dead", the alliance's president has insisted, after reports of a potential split in the wake of the Carlos Ghosn scandal. Jean-Dominique Senard said that reports Nissan is mulling plans for a possible break-away had "no connection to the current situation of the alliance". "The Renault-Nissan alliance is not dead! Soon we will show you why," he said in an interview with Belgian daily L'Echo published Tuesday. "I ask myself, where does this sort of information come from? I am not sure it comes from a place of goodwill," Senard said. Britain's Financial Times, citing "several people with knowledge of the matter", said on Monday that senior executives at the scandal-hit Japanese automaker were speeding up work on secret plans for a potential divorce with French partner Renault. In early trading in Tokyo on Tuesday, Nissan fell 1.77 percent, while Renault stocks finished 2.8 percent lower in Paris. The reports come after former alliance chief Ghosn jumped bail and fled Japan, where he was awaiting trial on financial misconduct charges. His shock arrival in his native Lebanon prompted outrage from the Japanese government as well as from Nissan. Ghosn alleges the charges against him were cooked up by disgruntled Nissan executives opposed to his plans to more closely align the Japanese firm with its French partner. At a press conference in Lebanon last week, he slammed the state of the alliance he once led, saying it had been gutted and left directionless. The 20-year partnership between Nissan and Renault, whose alliance is based on cross-shareholdings without a joint structure, has been badly shaken by the scandal. But Senard said the alliance was "nowhere near" the point of collapse and insisted its leaders were busy "recreating its original spirit" and planning future investments. On Tuesday, a Nissan spokeswoman declined to comment, saying: "We don't comment on speculation." A source close to the company told AFP the leaks probably came from "a few disgruntled souls" inside Nissan who wanted to "vent their frustration", adding that rebuilding trust between the two firms "will take time".

Renault-Nissan president denies reports of potential split

<a href="https://www.wionews.com/.../wasnt-aware-of-anything-carlos-ghosns-wife-on -husbands-escape-after-japanese-authorities-issue-arrest-warrant-for-her- ...">Lebanon</a> banned former auto tycoon Carlos Ghosn from travelling on Thursday after questioning him over an Interpol "red notice" of charges of financial misconduct in Japan, judicial sources said.

The 65-year-old businessman,&nbsp;for years venerated in Japan for turning around once-ailing Nissan,&nbsp;fled while awaiting trial on charges including allegedly under-reporting his compensation to the tune of $85 million.

His shock arrival in his native Lebanon last month was the latest twist in a story worthy of a Hollywood plot and prompted outrage from the Japanese government as well as from Nissan.

"The state prosecution issued a travel ban for Ghosn, and asked for his file from the Japanese authorities," said a judicial source.

A second judicial source said, "He has been banned from travelling until his judicial file arrives from Japan."

"According to what is inside the file, if it appears that the crimes he is accused of in Japan require being pursued in Lebanon, he will be tried," the source added.

"But if it doesn't require being pursued under Lebanese law, then he will be free."

Also Read:&nbsp;<a href="https://www.wionews.com/world/former-nissan-chairman-carlos-ghosn-holds-first-press-conference-since-escape-from-japan-273012">There was no way I was going to be treated fairly: Former Nissan chairman Carlos Ghosn</a>

Lebanon's judiciary received a "red notice" from Interpol last week urging Ghosn's arrest.

A "red notice" is a request to police across the world to provisionally arrest a person pending extradition, surrender or similar legal action. It is not an arrest warrant.

Lebanon does not have an extradition agreement with Japan.

Ghosn also made a statement to prosecutors on a report submitted by Lebanese lawyers that he had travelled to neighbouring Israel as head of Renault-Nissan.

Lebanon and neighbouring Israel are still technically at war, and Beirut has forbidden its citizens from visiting or having contacts.

In early 2008, <a href="https://www.wionews.com/.../carlos-ghosn-fled-by-bullet-train-japan-vows-to -bolster-borders-272500">Ghosn</a> travelled to Israel to announce the mass production of electric vehicles there with the cooperation of Renault-Nissan.

At a press conference in Beirut on Wednesday, Ghosn apologised to the Lebanese people for having visited the neighbouring country.

He said he went as the head of Renault.

"I went as a Frenchman because of a contract between Renault and an Israeli company," said Ghosn, who holds French, Lebanese and Brazilian nationalities.

"I always come back to Lebanon and nothing has ever happened before," he said.

Lebanon banned former auto tycoon Carlos Ghosn from travelling on Thursday after questioning him over an Interpol "red notice" of charges of financial misconduct in Japan, judicial sources said.

Lebanon banned former auto tycoon Carlos Ghosn from travelling on Thursday after questioning him over an Interpol "red notice" of charges of financial misconduct in Japan, judicial sources said. The 65-year-old businessman, for years venerated in Japan for turning around once-ailing Nissan, fled while awaiting trial on charges including allegedly under-reporting his compensation to the tune of $85 million. His shock arrival in his native Lebanon last month was the latest twist in a story worthy of a Hollywood plot and prompted outrage from the Japanese government as well as from Nissan. "The state prosecution issued a travel ban for Ghosn, and asked for his file from the Japanese authorities," said a judicial source. A second judicial source said, "He has been banned from travelling until his judicial file arrives from Japan." "According to what is inside the file, if it appears that the crimes he is accused of in Japan require being pursued in Lebanon, he will be tried," the source added. "But if it doesn't require being pursued under Lebanese law, then he will be free." Also Read: There was no way I was going to be treated fairly: Former Nissan chairman Carlos Ghosn Lebanon's judiciary received a "red notice" from Interpol last week urging Ghosn's arrest. A "red notice" is a request to police across the world to provisionally arrest a person pending extradition, surrender or similar legal action. It is not an arrest warrant. Lebanon does not have an extradition agreement with Japan. Ghosn also made a statement to prosecutors on a report submitted by Lebanese lawyers that he had travelled to neighbouring Israel as head of Renault-Nissan. Lebanon and neighbouring Israel are still technically at war, and Beirut has forbidden its citizens from visiting or having contacts. In early 2008, Ghosn travelled to Israel to announce the mass production of electric vehicles there with the cooperation of Renault-Nissan. At a press conference in Beirut on Wednesday, Ghosn apologised to the Lebanese people for having visited the neighbouring country. He said he went as the head of Renault. "I went as a Frenchman because of a contract between Renault and an Israeli company," said Ghosn, who holds French, Lebanese and Brazilian nationalities. "I always come back to Lebanon and nothing has ever happened before," he said.

Lebanon bans Carlos Ghosn from foreign travel

Former-Nissan boss Carlos Ghosn on Wednesday made his first public appearance at a press conference in Beirut since skipping bail in Japan.

"I am not here to talk about how I fled Japan," he said.

Also read:&nbsp;<a href="https://www.wionews.com/world/unexpected-surprise-how-did-nissan-boss-carlos-ghosn-escape-to-lebanon-271401">'Unexpected surprise' - How did Nissan boss Carlos Ghosn escape to Lebanon?&nbsp;</a>

Attacking Japan’s justice system Ghosn said that I have been a victim of injustice, political persecution and 'ripped' from friends, family.

Ghosn said that he is 'ready to stay a long time' in Lebanon'.

Talking about the 'plot' to oust him he said that he does not believe that Japanese Prime Minister Shinzo Abe was involved in anything like that.

"The collusion between Nissan and prosecutors is everywhere," Ghosn said, claiming his arrest in Japan was "staged".

"There was no way I was going to be treated fairly ... this was not about justice. I felt I was a hostage of the country that I have served for 17 years," he said.

Ousted Nissan boss Carlos Ghosn stunned the world with his surprise escape to Lebanon last month.&nbsp;

Ghosn, while awaiting trial, eluded media and authorities to escape to Lebanon when, as per his lawyer Junichiro Hironaka, all three of his passports were in possession of the lawyers.

Ghosn is unlikely to be forced to return to Japan in the absence of an extradition treaty between Lebanon and Japan.

The former auto executive was initially arrested in Tokyo in November 2018. He faces four charges which include hiding income and enriching himself through payments to Middle East dealerships. Ghosn denies all charges.&nbsp;

(With inputs from agencies)

Former-Nissan boss Carlos Ghosn on Wednesday made his first public appearance at a press conference in Beirut since skipping bail in Japan. "I am not here to talk about how I fled Japan," he said.

Former-Nissan boss Carlos Ghosn on Wednesday made his first public appearance at a press conference in Beirut since skipping bail in Japan. "I am not here to talk about how I fled Japan," he said. Also read: 'Unexpected surprise' - How did Nissan boss Carlos Ghosn escape to Lebanon? Attacking Japan’s justice system Ghosn said that I have been a victim of injustice, political persecution and 'ripped' from friends, family. Ghosn said that he is 'ready to stay a long time' in Lebanon'. Talking about the 'plot' to oust him he said that he does not believe that Japanese Prime Minister Shinzo Abe was involved in anything like that. "The collusion between Nissan and prosecutors is everywhere," Ghosn said, claiming his arrest in Japan was "staged". "There was no way I was going to be treated fairly ... this was not about justice. I felt I was a hostage of the country that I have served for 17 years," he said. Ousted Nissan boss Carlos Ghosn stunned the world with his surprise escape to Lebanon last month. Ghosn, while awaiting trial, eluded media and authorities to escape to Lebanon when, as per his lawyer Junichiro Hironaka, all three of his passports were in possession of the lawyers. Ghosn is unlikely to be forced to return to Japan in the absence of an extradition treaty between Lebanon and Japan. The former auto executive was initially arrested in Tokyo in November 2018. He faces four charges which include hiding income and enriching himself through payments to Middle East dealerships. Ghosn denies all charges. (With inputs from agencies)

There was no way I was going to be treated fairly: Former Nissan chairman Carlos Ghosn

Carole Ghosn, former Nissan chief Carlos Ghosn's wife, has said that she did not know about her husband's <a href="http://wionews.com/world/japan-to-seek-help-from-lebanon-over-fugitive-carlos-ghosn-272709">mysterious escape from Japan</a> to Lebanon last month.&nbsp;

Carole remarks came after Japanese prosecutors issued an arrest warrant against her in the case.&nbsp;

Mrs Ghosn told a French newspaper that she was in Beirut with her children for Christmas when she received a call about her husband's escape which she described as the best surprise "in all my life!"&nbsp;

"Fleeing was the only possible choice as he saw his trial being postponed indefinitely and he was being detained in conditions that deprived him of his rights with the aim of dehumanising him," she said as reported by news agency AFP.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/world/unexpected-surprise-how-did-nissan-boss-carlos-ghosn-escape-to-lebanon-271401">'Unexpected surprise' - How did Nissan boss Carlos Ghosn escape to Lebanon?&nbsp;</a>

She alleged that her husband is a victim of an "industrial plot and the war between Renault and <a href="https://www.wionews.com/world/ghosns-escape-extremely-regrettable-nissan-272597">Nissan</a>", adding that he cannot plead guilty for something that he did not do.&nbsp;

Meanwhile, Carlos Ghosn is expected to hold a press conference in Lebanon on Wednesday. This will be the first time when Ghosn will be holding a public conference after fleeing from Japan where he is facing trial.&nbsp;&nbsp; &nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/nissan-ex-boss-carlos-ghosn-to-hold-press-conference-on-january-8-272754/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

"I have not fled justice - I have escaped injustice and political persecution. I can now finally communicate freely with the media, and look forward to starting next week," Ghosn said after landing in Beirut.&nbsp;

Ousted Nissan boss Carlos Ghosn stunned the world with his surprise escape to Lebanon last month.&nbsp;

Ghosn, while awaiting trial, eluded media and authorities to escape to Lebanon when, as per his lawyer Junichiro Hironaka, all three of his passports were in possession of the lawyers.

Ghosn is unlikely to be forced to return to Japan in the absence of an extradition treaty between Lebanon and Japan.

The former auto executive was initially arrested in Tokyo in November 2018. He faces four charges which include hiding income and enriching himself through payments to Middle East dealerships. Ghosn denies all charges.&nbsp;

Carole Ghosn, former Nissan chief Carlos Ghosn's wife, has said that she did not know about her husband's mysterious escape from Japan to Lebanon last month. Carole remarks came after Japanese prosecutors issued an arrest warrant against her in the case.

Carole Ghosn, former Nissan chief Carlos Ghosn's wife, has said that she did not know about her husband's mysterious escape from Japan to Lebanon last month. Carole remarks came after Japanese prosecutors issued an arrest warrant against her in the case. Mrs Ghosn told a French newspaper that she was in Beirut with her children for Christmas when she received a call about her husband's escape which she described as the best surprise "in all my life!" "Fleeing was the only possible choice as he saw his trial being postponed indefinitely and he was being detained in conditions that deprived him of his rights with the aim of dehumanising him," she said as reported by news agency AFP. Also read: 'Unexpected surprise' - How did Nissan boss Carlos Ghosn escape to Lebanon? She alleged that her husband is a victim of an "industrial plot and the war between Renault and Nissan", adding that he cannot plead guilty for something that he did not do. Meanwhile, Carlos Ghosn is expected to hold a press conference in Lebanon on Wednesday. This will be the first time when Ghosn will be holding a public conference after fleeing from Japan where he is facing trial. × "I have not fled justice - I have escaped injustice and political persecution. I can now finally communicate freely with the media, and look forward to starting next week," Ghosn said after landing in Beirut. Ousted Nissan boss Carlos Ghosn stunned the world with his surprise escape to Lebanon last month. Ghosn, while awaiting trial, eluded media and authorities to escape to Lebanon when, as per his lawyer Junichiro Hironaka, all three of his passports were in possession of the lawyers. Ghosn is unlikely to be forced to return to Japan in the absence of an extradition treaty between Lebanon and Japan. The former auto executive was initially arrested in Tokyo in November 2018. He faces four charges which include hiding income and enriching himself through payments to Middle East dealerships. Ghosn denies all charges.

Wasn't aware of anything: Carlos Ghosn's wife after Japanese authorities issue arrest warrant for her

renault

Renault, News on Renault, stories on Renault, articles on Renault, Renault stories at Wion, Renault news, Renault latest news