Volvo will break with auto show tradition in Los Angeles, where it will not have a single car on its stand. The idea is to underline that the disruption the industry is undergoing requires a fresh approach.
Nissan paid "huge sums" for Carlos Ghosn's residences in four cities where there were no business justifications, Japanese broadcaster NHK reported, as questions swirled over what led to the downfall of one of the world's most recognizable executives.
Renault's board appointed an interim chairman and handed new powers to its chief operating officer to replace embattled boss Carlos Ghosn following his arrest in Japan on suspicion of financial misconduct, sources told Reuters.
Nissan's investigation into alleged misconduct by Chairman Carlos Ghosn is expanding to include Renault-Nissan finances, sources told Reuters. 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.
Renault-Nissan-Mitsubishi, the world's largest car alliance, is facing its biggest challenge yet with the arrest of its Chairman, Carlos Ghosn, which could threaten to upend the union of automakers he began to forge almost two decades ago.
France is seeking an interim leader for Renault, distancing itself from CEO Carlos Ghosn after he was arrested in Japan on allegations of financial misconduct. "He is de facto not in a position to run the group," Finance Minister Bruno Le Maire said. He was expected to meet with Renault's board later Tuesday.