>> Nissan and Renault are coming to terms with the fact that their legendary boss Carlos Ghosn is under arrest. Shares in the Japanese automaker fell 6% in Tokyo trade after a big slide in Renault stock the day before. Ghosn is detained in Japan over allegations of financial misconduct.
Nissan says it's firing him after discovering he under reported his salary. France's government, which owns a big stake in Renault, seems keen to move on.>>
>> The question is, what happens to Nissan's alliance with Renault and Mitsubishi? Ghosn was chairman of all three and CEO of the French unit. And it was really Renault in charge, as it had the controlling stake. Reuters Breakingviews columnist Liam Proud.>> It's difficult to tell exactly what Nissan might like to do with this.
But at the moment, you can see that they are relatively disadvantaged. So they've invested a lot more than Renault in key markets like China. And Renault is a much kind of smaller European subscale player that's generally less productive compared to the Japanese group. So you might imagine that they would like the terms of the alliance to reflect that, where they have more say than they do at the moment relative to the French.
>> Brazilian-born of Lebanese descent and a French citizen, Ghosn found fame in Japan when he rescued Nissan from near bankruptcy. He's sometimes seen as a symbol of the globalized integrated car industry. The question now is whether it's gonna get a little less globalized when he's gone.>>