Renault’s Bollore said to win French backing as interim CEO

November 20, 2018 16:42 CET

PARIS — Renault Chief Operating Officer Thierry Bollore has won the backing of the French government to become interim CEO following Carlos Ghosn’s arrest in Japan over allegations of financial impropriety, according to a person familiar with the matter.

The French state is also expected to back lead board director Philippe Lagayette as non-executive chairman to fill Ghosn’s other role, said two people, who asked not be be named because the deliberations Continue reading “Renault’s Bollore said to win French backing as interim CEO”

Nissan said to expand Ghosn misconduct probe to include Renault alliance

November 20, 2018 15:27 CET

PARIS — Nissan’s investigation into alleged misconduct by Chairman Carlos Ghosn is expanding to include Renault-Nissan finances, sources told Reuters – in a further sign that Nissan may seek to loosen its French parent’s hold on their global carmaking alliance.

Nissan told Renault’s board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault’s ultimate control, three people with Continue reading “Nissan said to expand Ghosn misconduct probe to include Renault alliance”

Ghosn faces 10-year jail sentence if convicted of financial misconduct

November 20, 2018 12:01 CET

TOKYO — Nissan Chairman Carlos Ghosn would face a maximum penalty of up to 10 years in prison and/or a fine of up to 10 million yen if convicted of financial improprieties in Japan under the country’s Financial Instruments and Exchange Act.

Nissan CEO Hiroto Saikawa told a press conference on Monday that the company had found that Ghosn had been using corporate money for personal purposes and under-reporting his income for years in official company filings to Continue reading “Ghosn faces 10-year jail sentence if convicted of financial misconduct”

Mali to produce lithium by 2020 after 694,000 tons discovered

November 20, 2018 13:05 CET

BAMAKO, Mali — Mali is on track to start lithium production by 2020 and companies have already discovered 694,000 tons of exploitable reserves, a senior mines ministry official told Reuters.

Lithium has become one of the world’s most in-demand commodities thanks to the rising popularity of electric vehicles powered by lithium ion batteries.

The Goulamina and Bougoni projects in Mali, owned by Australian mineral explorer Birimian and Britain’s Kodal Continue reading “Mali to produce lithium by 2020 after 694,000 tons discovered”

VW brand COO outlines his plans for Europe’s top automaker

November 20, 2018 12:44 CET

Volkswagen brand is readying the launches of a raft of new products in Europe including the new Golf and the T-Cross small SUV. Chief Operating Officer Ralf Brandstaetter outlined his priorities for the brand in an interview with Automotive News Europe Correspondent Christiaan Hetzner.

How would you describe your role as chief operating officer?

When Herbert Diess became head of both the brand and then the group, there was a concern that due to the broad Continue reading “VW brand COO outlines his plans for Europe’s top automaker”

Bentley’s hit from WLTP tests ‘close to catastrophic,’ CEO says

November 20, 2018 12:47 CET

LONDON — Bentley was too slow to ready its cars for Europe’s new WLTP testing regime, causing problems that were “close to catastrophic,” CEO Adrian Hallmark said.

Bentley lost 137 million euros in the first nine months compared with a small profit in the same period last year, according to the latest financial report from parent Volkswagen Group.

Hallmark said Bentley’s cars got “stuck in the queue” for testing under the WLTP regime introduced in the EU on Continue reading “Bentley’s hit from WLTP tests ‘close to catastrophic,’ CEO says”

Could driverless cars solve carsickness?

November 20, 2018 06:01 CET

As veteran car-testers on our staff can confirm, there is nothing quite like being stuck in the passenger seat as an overzealous auto writer twists and turns through country curves and mountain switchbacks.

Wired magazine says about 70 percent of passengers suffer motion sickness. Now consider the driverless world of the future, when we’ll all be passengers. What then?

Scientists say there is no consensus about the causes of car queasiness and what can be Continue reading “Could driverless cars solve carsickness?”

Renault may replace Ghosn as CEO, report say

November 20, 2018 09:45 CET

PARIS — France moved on Tuesday to oust Carlos Ghosn from the helm of Renault a day after his arrest in Japan on financial misconduct allegations, but sought to defend the automaker’s alliance with Nissan.

Ghosn was arrested on Monday after Nissan said he had engaged in wrongdoing, including personal use of company money and under-reporting how much he was earning, for years. Nissan said it would seek Ghosn’s removal as chairman at a board meeting on Continue reading “Renault may replace Ghosn as CEO, report say”

Renault-Nissan-Mitsubishi alliance under threat following Ghosn arrest

November 20, 2018 10:33 CET

BERLIN/PARIS — The world’s biggest car alliance is facing its biggest challenge yet, with the arrest of its Chairman, Carlos Ghosn, threatening to upend the union of automakers he began to forge almost two decades ago.

With Nissan beginning moves to oust Carlos Ghosn as chairman just hours after allegations against him started to emerge in Japanese media, and Mitsubishi Motors set to do the same, the focus shifts to the third partner in the carmaking group: Continue reading “Renault-Nissan-Mitsubishi alliance under threat following Ghosn arrest”

Brose Fahrzeugteile lets EV market shake out

November 20, 2018 06:01 CET

When a German automaker solicited supplier bids this fall to provide electric traction motors for a major platform involving several battery-electric vehicles, one of Europe’s largest motor suppliers, Brose Fahrzeugteile, declined to bid.

It had good reason to stay on the sidelines: In the era of industry electrification, Brose is taking a different path — playing it conservative as the EV market develops and prioritizing business in its other product Continue reading “Brose Fahrzeugteile lets EV market shake out”