Nissan and Mitsubishi shares plunged Tuesday after chairman Carlos Ghosn was arrested for alleged financial misconduct, that reportedly included exorbitantly priced houses and diverted compensation.
The two automakers have already said they will propose removing Ghosn, and Renault — which the titan also heads — said it would meet later in the day to discuss his fate.
The arrest of the superstar executive sent shockwaves through the auto industry and beyond, and Japanese officials scrambled to send reassuring messages about the stability of the three-firm alliance that Ghosn oversaw. Read more