Nissan unveils new Leaf car after Ghosn's arrest delays it

Nissan is showing the beefed up version of its hit Leaf electric car as the Japanese automaker seeks to distance itself from the arrest of its star executive Carlos Ghosn.

The unveiling Wednesday at Nissan Motor Co.'s Yokohama headquarters, southwest of Tokyo, had been postponed when Ghosn was arrested Nov. 19.

Ghosn has been charged with underreporting his income. Tokyo prosecutors have extended his detention through Friday, adding breach of trust allegations.

Nissan LEAF e+ is on display at the global headquarters of Nissan Motor Co., Ltd. in Yokohama Wednesday, Jan. 9, 2019. Nissan is showing the beefed up version of its hit Leaf electric car as the Japanese automaker seeks to distance itself from the arrest of its star executive Carlos Ghosn.The event at Nissan Motor Co.'s Yokohama headquarters, southwest of Tokyo, had been postponed when Ghosn was arrested Nov. 19.(AP PhotoKoji Sasahara)

Ghosn made his first public appearance since his arrest Tuesday, and denied each allegation in the Tokyo District Court. The Leaf was among the achievements for Nissan that Ghosn highlighted in his statement to the judge.

The new 4.16 million yen ($38,000) Leaf e+ is about the same size as the model on sale, but gets more power and cruise range. The best-selling electric car competes against Tesla models and General Motors' Bolt.

The Leaf that's on sale now costs about 3 million yen ($28,000), according to Nissan.

FILE - In this May 11, 2012, file photo, then Nissan Motor Co. President and CEO Carlos Ghosn speaks during a press conference in Yokohama, near Tokyo. Nissan is showing the beefed up version of its hit Leaf electric car Wednesday, Jan. 9, 2019, as the Japanese automaker seeks to distance itself from the arrest of its star executive Ghosn. The event at Nissan Motor Co.'s Yokohama headquarters, southwest of Tokyo, had been postponed when Ghosn was arrested Nov. 19.(AP PhotoKoji Sasahara, File)

The Leaf e+ gets faster acceleration and has more torque than the older model and offers 40 percent more range at 458 kilometers (285 miles) per charge, as measured under Japanese regulations, compared with the old model's 322 kilometers (200 miles).

It goes on sale in Japan later this month, and rolls out in the U.S. in spring 2019, and in Europe by mid-2019, Nissan said in a statement.

Nissan Executive Vice President Daniele Schillaci said the new model was offering customers more power and range, noting that it was "now more convenient and appealing than ever."

The logo of Nissan Motor Co., is seen at its global headquarters in Yokohama Wednesday, Jan. 9, 2019. Nissan is showing the beefed up version of its hit Leaf electric car as the Japanese automaker seeks to distance itself from the arrest of its star executive Carlos Ghosn. (AP PhotoKoji Sasahara)

More than 380,000 Nissan Leaf vehicles have been sold globally since its 2010 debut, a tiny fraction of the overall auto market. But many nations such as China are bullish about electric vehicle technology as it allows newcomers in the industry a big chance to succeed.

It is also an ecological technology and can be greatly boosted by government policies.

Although Nissan as a legal entity has also been charged with the underreporting of income, no other executive besides Ghosn and Greg Kelly, an American accused of collaborating on the underreported income, have been arrested.

A man walks past the corporate logos at the global headquarters of Nissan Motor Co., Ltd. in Yokohama Wednesday, Jan. 9, 2019. Nissan is showing the beefed up version of its hit Leaf electric car as the Japanese automaker seeks to distance itself from the arrest of its star executive Carlos Ghosn.(AP PhotoKoji Sasahara)

Kelly is out on bail since last month. He has not been suspected of breach of trust.

Prosecutors say Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, is a flight risk.

Bail is harder to get for breach of trust than falsifying financial reports, according to his lawyers. Prosecutors tend to think the suspect may collude with others or tamper with evidence, they said.

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SAN FRANCISCO (AP) — TikTok has signed agreements with three major investors — Oracle, Silver Lake and MGX — to form a new TikTok U.S. joint venture, ensuring the popular social video platform can continue operating in the United States.

The deal is expected to close on Jan. 22, according to an internal memo seen by The Associated Press. In the communication, CEO Shou Zi Chew confirmed to employees that ByteDance and TikTok signed the binding agreements with the consortium.

“I want to take this opportunity to thank you for your continued dedication and tireless work. Your efforts keep us operating at the highest level and will ensure that TikTok continues to grow and thrive in the U.S. and around the world,” Chew wrote in the memo to employees. “With these agreements in place, our focus must stay where it’s always been—firmly on delivering for our users, creators, businesses and the global TikTok community.”

Half of the new TikTok U.S. joint venture will be owned by a group of investors — among them Oracle, Silver Lake and the Emirati investment firm MGX, who will each hold a 15% share. 19.9% of the new app will be held by ByteDance itself, and another 30.1% will be held by affiliates of existing ByteDance investors, according to the memo. The memo did not say who the other investors are and both TikTok and the White House declined to comment.

The U.S. venture will have a new, seven-member majority-American board of directors, the memo said. It will also be subject to terms that “protect Americans’ data and U.S. national security.”

U.S. user data will be stored locally in a system run by Oracle. The memo said U.S. users will continue “enjoying the same experience as today” and advertisers will continue to serve global audiences with no impact from the deal.

TikTok’s algorithm — the secret sauce that powers its addictive video feed — will be retrained on U.S. user data to “ensure the content feed is free from outside manipulation,” the memo said. The U.S. venture will also oversee content moderation and policies within the country.

American officials have previously warned that ByteDance’s algorithm is vulnerable to manipulation by Chinese authorities, who can use it to shape content on the platform in a way that’s difficult to detect.

The algorithm has been a central issue in the security debate over TikTok. China previously maintained the algorithm must remain under Chinese control by law. But the U.S. regulation passed with bipartisan support said any divestment of TikTok must mean the platform cuts ties — specifically the algorithm — with ByteDance.

The deal marks the end of years of uncertainty about the fate of the popular video-sharing platform in the United States. After wide bipartisan majorities in Congress passed — and President Joe Biden signed — a law that would ban TikTok in the U.S. if it did not find a new owner in the place of China’s ByteDance, the platform was set to go dark on the law’s January 2025 deadline. For a several hours, it did. But on his first day in office, President Donald Trump signed an executive order to keep it running while his administration tries to reach an agreement for the sale of the company.

Three more executive orders followed, as Trump, without a clear legal basis, continued to extend the deadline for a TikTok deal. The second was in April, when White House officials believed they were nearing a deal to spin off TikTok into a new company with U.S. ownership that fell apart after China backed out following Trump’s tariff announcement. The third came in June, then another in September, which Trump said would allow TikTok to continue operating in the United States in a way that meets national security concerns.

TikTok has more than 170 million users in the U.S. About 43% of U.S. adults under the age of 30 say they regularly get news from TikTok, higher than any other social media app including YouTube, Facebook and Instagram, according to a Pew Research Center report published this fall.

Shares of Oracle jumped $9.07, or 5%, to $189.10 in after-hours trading.

FILE - In this July 21, 2020 file photo, a man opens social media app 'TikTok' on his cell phone, in Islamabad, Pakistan. (AP Photo/Anjum Naveed, File)