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Posts Tagged ‘Carlos Ghosn’

Ghosn to Add New Duties as Chairman of Mitsubishi

“It is going to be difficult.”

by on Oct.20, 2016

Saving Mitsubishi "will require tough decisions," said new Chairman Carlos Ghosn.

Already serving as the CEO of both French automaker Renault, as well as its Japanese alliance partner Nissan, Carlos Ghosn will now become chairman of embattled automaker Mitsubishi.

It will put the Brazilian-born executive in a familiar role. He became chief operating officer at Nissan in 1999, following a $6 billion investment by Renault, and helped turned the then-struggling Japanese company around. Following a series of scandals, Mitsubishi now needs similar help.

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And it could also help boost give a big boost to the Renault-Nissan Alliance, adding just enough volume for the Franco-Japanese partnership to brush aside rival Toyota to become the world’s best-selling auto company.


Nissan Looking to Sell Battery Manufacturing Operations

Panasonic reportedly one possible buyer.

by on Aug.08, 2016

The Nissan Leaf has been the world's best-selling battery car since its late 2009 launch.

Nissan Motor Co. is reportedly looking to sell its battery manufacturing operations, with Panasonic Corp. considered the most likely buyer.

Japan’s second-largest automaker has made a major bet on electric vehicles, but, with the market for battery cars running slower than expected, it is seeking to unload its 51% stake in the Automotive Energy Supply Corporation, or AESC, joint venture. The likely buyer, according to a report by the Reuter’s news service is Panasonic, which is the partner in Tesla’s Gigafactory battery plant in Reno, Nevada.

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“The report on Nissan and its battery business is speculation and is not based on any announcement by us,” David Reuter, a senior company spokesman, told But he also noted that the maker will “continuously evaluate our business strategy in pursuit of optimal products and business structure.”


Nissan Launches ProPilot At Awkward Moment

Japanese automaker opts for cautious approach as Tesla Autopilot comes under fire.

by on Jul.15, 2016

The new ProPilot system goes beyond active cruise control but is not hands-free.

With a goal of launching its first fully self-driving vehicle barely four years from now, Nissan is taking a first big step to get there with the launch of its new ProPilot system.

But the debut of the semi-autonomous technology comes at a potentially awkward moment, rival Tesla Motors taking serious heat for a series of crashes that may be linked to the U.S. maker’s similar Autopilot systems.

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It’s perhaps no surprise, then, that Nissan officials put as much emphasis on the limits of ProPilot as they did on the new system’s capabilities during a preview at the company’s headquarters in Yokohama, Japan.


Infiniti May add Semi-Autonomous Technology for Most New Models

Next step: fully autonomous vehicles.

by on Jun.08, 2016

The Infiniti Q50 already offers a steer-by-wire system that would readily enable autonomous driving.

Luxury brand Infiniti is likely to add semi-autonomous driving capabilities to most of its new models, the Nissan subsidiary’s president said, during an appearance at a global auto industry summit in Chongqing, China.

The move would potentially put Infiniti on a par, and perhaps ahead, of key luxury rivals in the race to bring fully self-driving vehicles on the road by the early part of the coming decade. And Infiniti’s announcement would echo the aggressive goals of Nissan CEO Carlos Ghosn, who has said the second-largest Japanese automaker wants to have as many as 10 autonomous vehicles in production by 2020.

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“This will be rolled out as we are launching new vehicles one by one,” Roland Krueger, Infiniti’s president, told the Reuters news service.


Nissan Confirms Plan to Buy 34% of Scandal-Plagued Mitsubishi

Fire sale will give it control over smaller maker.

by on May.12, 2016

A "win-win," says Nissan CEO Carlos Ghosn - who also promises Mitsubishi "will change."

Nissan Motor Co. will take a controlling 34% stake in troubled Mitsubishi Motors for $2.2 billion, the two automakers confirmed on Thursday morning, something Nissan CEO Carlos Ghosn described as a “win-win” for both companies.

The announcement came on the same day the larger of the two makers announced that its earnings for the January-March period, the final quarter in its fiscal year, had dropped by 40%, largely due to weak sales and a strong yen.

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The decision to acquire a stake in Mitsubishi comes as the smaller maker continues to reveal damaging information about a secret effort to inflate its fuel economy numbers for as much as a quarter century. That scandal — ironically, triggered by concerns at Nissan over the mileage of cars it sells that are produced by Mitsubishi – have hammered the small maker’s sales and led to a more than 40% dip in its share price over the past month.


Nissan and Renault Set to Launch 10 Autonomous Vehicles by 2020

“The future is not clear,” says CEO Ghosn.

by on Mar.24, 2016

“This is not a time to be conservative or cautious,” said Renault-Nissan CEO Carlos Ghosn in NY.

Already the world’s number one producer of battery-electric vehicles, Japan’s Nissan and its French alliance partner Renault intend to become the leader in autonomous driving, as well – CEO Carlos Ghosn telling a New York International Auto Show audience the partners intend to offer 10 vehicles with “significant autonomous drive functionality” by 2020.

According to Ghosn, the Renault-Nissan Alliance will begin to roll out increasingly advanced version of its technology over the next four years, starting with cars capable of operating hands-free in a single lane on limited-access highways. The next step will allow vehicles to pass and change lanes, with the alliance’s first, fully autonomous car set to go into production by 2020.

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“This is not a time to be conservative or cautious” about changing technology, said Ghosn, who added that traditional automakers face a series of potential challenges, some posed by an assortment of outside tech companies like Google and Apple.


Renault and Nissan Tighten Embrace to Boost Earnings

Partners target $6 billion in new synergies.

by on Mar.04, 2016

Renault-Nissan Alliance CEO Carlos Ghosn sees more opportunities for savings.

Already one of the most successful partnerships in automotive history, the Renault-Nissan Alliance is targeting an additional $6 billion in new “synergies” by 2018, the two carmakers announced Friday.

The plan comes as something of a victory lap for Carlos Ghosn, the Brazilian-born executive who serves as CEO of the two companies. Late last year, he beat back a push by the French government, a major investor in Renault, which threatened to fracture the Euro-Asian alliance.

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“The auto industry is rapidly evolving, requiring Renault and Nissan to leverage the Alliance as a pragmatic business tool,” said Ghosn in a prepared statement.


Nissan Turns $1.6B Q3 Profit

Automaker sees earnings rise 24% during quarter.

by on Feb.10, 2016

Nissan Chief Carlos Ghosn said the company expects to meet its financial forecast for the full year.

Like so many other automakers, Nissan rode the wave of record sales in North America to a profit last quarter.

The Japanese automaker reported a 24% increase in operating profit to $1.6 billion on revenue of $24.8 billion.

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Through three quarters, Nissan posted an operating profit of $4.8 billion, representing an increase of 40.6% on revenue of $73.5 billion, up 10.6%. (more…)

Ford Expects Record Profits; GM Sees Own Earnings Growth

Makers increase returns to shareholders; GM boosts stock buyback program.

by on Jan.13, 2016

Ford CEO Mark Fields showing off a new piece of technology at CES last week.

Investors take notice: while the stock market hasn’t been kind to the auto industry in recent weeks – or just about anyone else, for that matter – Detroit’s two largest carmakers are making some upbeat projections for 2016 that could make nervous shareholders happy.

Ford Motor Co. now expects to close the books on 2015 with a record pre-tax profit, with 2016 numbers to be “equal to or higher.” And GM is boosting its own earnings outlook for 2016. Both companies now plan to up their cash payouts to shareholders, while GM is expanding its ongoing stock buyback program.


“This pattern of strong returns gives us a great platform to build on as we enter the year with a focus on strengthening our core business and engaging aggressively in emerging opportunities through Ford Smart Mobility,” said Ford CEO Mark Fields, in a statement detailing Ford’s forecast.


Toyota Investing $1 Bil in US Artificial Intelligence Center

Technology could help make driving safer but also assist the disabled at home.

by on Nov.06, 2015

The Toyota FCV Plus cconcept is the sort of futuristic vehicle that could make use of AI breakthroughs.

Toyota will invest $1 billion to set up a new U.S. artificial intelligence and robotics research center over the next five years, the maker announced in Tokyo on Friday.

The new Toyota Research Institute Inc. will have offices in both Silicon Valley and Cambridge, Massachusetts, announced Akio Toyoda, President of Toyota and a grandson of the automaker’s founder. The facility will focus not only on ways to make driving safer but also on technology that can improve the lives of the elderly and disabled.

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A key target will be to “improve safety by continuously decreasing the likelihood that a car will be involved in an accident,” explained Dr. Gill Pratt, the CEO of the new venture. It also aims to “make driving accessible to everyone, regardless of ability,” while also applying technology “to indoor environments for the support of seniors.”