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Showing content with the highest reputation on 01/23/2019 in all areas

  1. 1 point
    As electric cars’ hunger for power increases, two companies plan a joint venture to produce prismatic batteries Toyota and Panasonic have confirmed plans to set up a joint venture to produce batteries for electric cars. The collaboration, which will begin by the end of 2020, will see the two companies transfer up to 3500 employees, and Panasonic relocate its manufacturing facilities in Japan and China. The batteries produced by the joint venture will be sold to multiple car manufacturers. Neither company has revealed how much capital is being invested, but confirmed that the venture would be 51% controlled by Toyota. Toyota and Panasonic have worked together since 1953, and as recently as 2017 struck an initial partnership to produce lithium-ion batteries. Panasonic is already the exclusive battery cell supplier to Tesla, but its batteries are already widely used across the automotive industry in EVs, including various hybrid models produced by Toyota. A crucial aspect of the venture is considering how to make supply stable amid growing fears of shortages and concerns around the ethics of collecting the required elements to make the batteries. It is for this reason that the partnership aims to aid the proliferation of EVs globally, rather than simply Toyota or Lexus hybrids and EVs. “Together with Panasonic, we want to hone our competitiveness in batteries, one of the core technologies of electrified vehicles,” Toyota Executive Vice-President Shigeki Terashi said. “By contributing to the popularisation of Toyota’s and other auto makers’ electrified vehicles, we want to help find solutions to issues such as global warming and environment and energy-related challenges.” The announcement follows an earlier agreement to study the feasibility of the two companies working together on the production of prismatic batteries for the automotive industry, and will aim to further develop next-generation solid-state batteries as the technology picks up pace in several areas of the industry, due to a potential higher capacity that would be suited to longer-range electric vehicles. “Panasonic is a leading company in the area of automotive batteries. I think it was fate for us to come together to work for this collaboration. We would like to offer opportunities to work together with other companies with the collaboration for the realisation of automotive prismatic batteries,” said Toyota boss Akio Toyoda. Read more: Toyota to introduce game-changing electric vehicle in 2022 - report Next Lamborghini Huracan due in 2022 will be plug-in hybrid BMW readies radical battery technology for 2026 launch View the full article
  2. 0 points
    Renault calls board meeting to replace Ghosn as Chairman and CEO, reports suggest, in a move aimed at easing tensions with Nissan Renault will decide the fate of its chairman and CEO, Carlos Ghosn, in a board meeting set to take place tomorrow, Reuters reports. The architect and former boss of the Renault-Nissan-Mitsubishi alliance is still being detained in Japan, facing charges of serious financial misconduct. Renault's emergency board meeting, where Ghosn is expected to be replaced, comes two months after his arrest and subsequent dismissal from Nissan. The board will meet tomorrow morning, where sources suggest they will consider appointing former Michelin CEO Jean-Dominique Senard as chairman and Ghosn's debuty Thierry Bollore as CEO. It's been suggested that the decision is an attempt to heal the rift between Nissan and Renault that has developed since the scandal. Nissan and Mitsubishi claimed last week that Ghosn received £6.9 million in 'improper' payments without consulting the board, in a joint statement issued by both brands. Ghosn has had several bail applications denied after being indicted on charges of serious financial misconduct, aggravated breach of trust and understating his income for three years. New allegations come direct from two of his former employers, claiming he failed to consult the board when receiving payments from Nissan-Mitsubishi BV (NMBV), a Netherlands-based joint venture set up to explore greater collaboration within the group. Prosecutors laid further charges against Ghosn last week, days after he issued a public statement claiming that he has been "wrongly accused" of serious financial misconduct. The 64-year-old was arrested by prosecutors in Japan in November last year. His hearing at a court in Tokyo last week was his first public appearance since then. In a prepared statement to the court issued by his legal team, Ghosn said: “I am innocent of the accusations made against me. I have always acted with integrity and have never been accused of any wrongdoing in my several-decade professional career. “I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations.” The court hearing was requested by Ghosn’s lawyers to explain the reasons for his prolonged detention. The judge, Yuichi Tada, said it was because he was considered a flight risk, and the possibility of concealing evidence. According to reports, Ghosn was led into the court in handcuffs and with a rope around his waist, and appeared notably thinner than previously. In his statement, Ghosn also listed his achievements during his time as head of Nissan, and added: “I have a genuine love and appreciation for Nissan." “I believe strongly that in all of my efforts on behalf of the company, I have acted honourably, legally and with the knowledge and approval of the appropriate executives inside the company – with the sole purpose of supporting and strengthening Nissan, and helping to restore its place as one of Japan’s finest and most respected companies.” Ghosn denies claims in statement Responding to the claims of under-reporting his salary, Ghosn said: “I never received any compensation from Nissan that was not disclosed, nor did I ever enter into any binding contract with Nissan to be paid a fixed amount that was not disclosed.” Ghosn’s statement included rebuttals of several of the specific charges made against him, which include claims he moved personal investment losses totalling 1.85bn yen (£13.3m) to Nissan. He said he did ask the company to take on the collateral temporarily due to his foreign exchange contracts, but that the company did not lose money through this move. Ghosn has also been accused of using Nissan funds to make payments to Saudi businessman Khaled Juffali, in return for a letter of credit to help with investment losses. In response, Ghosn said that Juffali was “appropriately contributed” for helping Nissan secure funding, solve an issue with a distributor in the Gulf region and negotiate the development of a plant in Saudi Arabia. Representatives of the Khaled Juffali Company also issued a statement, saying that the payments it received from Nissan were "for legitimate business pusposes". Read more Nissan to oust boss Carlos Ghosn over claims of serious financial misconduct Nissan officially dismisses Ghosn from chairman role Renault keeps Ghosn in CEO role Opinion: taking stock of Nissan's claims about Carlos Ghosn View the full article

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