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Posts Tagged ‘Renault-Nissan-Mitsubishi Alliance’

Ghosn Reimbursing Renault €50,000 for Wedding Expenses

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

by Michael Strong on Feb.08, 2019

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

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

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

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

Nissan Exec Kelly Released; Ghosn Still in Tokyo Detention

Late-night release comes five weeks after arrest.

by Paul A. Eisenstein on Dec.26, 2018

Greg Kelly's wife told Japanese TV that she believes her husband is a victim of a Nissan power grab.

Greg Kelly, an ousted Nissan Motor Co. executive caught up in a financial corruption scandal, has been released on bail after being held for more than a month in the Tokyo Detention Center.

Kelly was arrested Nov. 19, immediately after arriving in Japan on a corporate jet. He accompanied Carlos Ghosn, then Nissan’s chairman, as well as the head of the Renault-Nissan-Mitsubishi Alliance. Ghosn, who is at the center of the scandal, will remain in detention until at least Jan. 1.

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Prosecutors had also attempted to keep Kelly in custody, arguing he is a flight risk. The court ultimately ruled that he could be released on bail of 70 million yen, or $636,000. The American executive must also abide by restrictions on his movement. (more…)

Future of Alliance with Nissan/Renault the Big Question as Zetsche Prepares to End Role as Daimler CEO

Zetche and Nissan/Renault’s Ghosn insist there is more to come during Paris new conference.

by Paul A. Eisenstein on Oct.03, 2018

Zetsche and Ghosn first met when the German exec was working at Freightliner and the Brazilian-born Ghosn worked for Michelin.

Since launching the first in a broad series of joint ventures nine years ago, Daimler AG and the Nissan/Renault/Mitsubishi Alliance have generated what they claim to be billions of dollars in “synergies” that have allowed them to expand their product lines and grow into new markets.

But in recent months, the future of that partnership has come under question. The last major new project was announced three years ago. And now, with Daimler Chief Executive Dieter Zetsche planning to relinquish the CEO title next year, that has raised new questions about whether his successor, Ola Kallenius, would keep the alliance going.

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“Without the chemistry between us, maybe this wouldn’t have happened,” said Zetsche, during a joint news conference with Nissan/Renault/Mitsubishi Alliance chief Carlos Ghosn. But considering the results the partnership has generated, “I don’t see from my perspective why the momentum in this relationship should change.”

(more…)

Ghosn Dismisses Speculation of a Renault Takeover of Alliance

Complex ownership structure, that includes French government, makes it difficult.

by Michael Strong on Jun.26, 2018

Renault-Nissan-Mitsubishi Alliance chief Carlos Ghosn recently reiterated there is "zero chance" of Renault taking over Nissan and Mitsubishi.

The question of what company in the three-legged stool that is Renault Nissan Mitsubishi might acquire the other two has been broached a few times since Mitsubishi was added. The issue is apparently important enough for Carlos Ghosn, who heads up the three companies, to address recently.

“Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result,” Ghosn told shareholders of Mitsubishi Motors at a meeting las week.

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Ghosn is CEO of Renault as well and chairman of Nissan. He recently turned over the role of CEO there to Hiroto Saikawa. The simple reason for encouraging the automakers to work together but remain autonomous is simple: You don’t fix what isn’t broken. (more…)

Renault-Nissan-Mitsubishi Alliance Creating $200M Mobility Tech Fund

Franco-Japanese alliance also setting up new robo-taxi project.

by Paul A. Eisenstein on Jan.05, 2018

Carlos Ghosn, CEO of the Renault-Nissan-Mitsubishi Alliance, will discuss plans for its $200 million mobility tech fund at CES.

These are challenging times for even the most well-funded automakers. The industry is expected to change more during the next decade than it has during the last century, and carmakers need to stay on top of technologies such as electrification, connected cars and autonomous vehicles, never mind business shifts, such as the rise of car- and ride-sharing services such as Car2Go, Uber and Lyft.

That’s leading the Renault-Nissan-Mitsubishi Alliance to set up a $200 million mobility tech fund, according to a report by the Reuters news service. The alliance’s CEO Carlos Ghosn is expected to announce details during a news conference at the Consumer Electronics Show in Las Vegas early next week.

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Separately, officials with the Franco-Japanese alliance announced plans to set up a consortium aimed at putting robo-taxis into commercial use. Among other things, that could include existing ride-share services like Uber and Lyft, as well as Waymo which is developing its own autonomous and driverless technologies. The Google spinoff has said it does not plan to produce its own vehicles. (more…)