Nissan buys big stake in scandal-hit Mitsubishi
- 8 years ago
Japanese carmaker Nissan is taking a 34 percent stake in its smaller, scandal-hit rival Mitsubishi, paying the equivalent of 1.93 billion euros.
The deal is a lifeline for Mitsubishi which has seen its shares almost halve in value after admitting overstating fuel economy figures for some of its models”:http://www.euronews.com/2016/05/11/further-mileage-test-irregularities-by-mitsubishi-report/.
Nissan Chief Executive Carlos Ghosn said the two would now share and jointly develop technology, and save “billions“ through synergies: “At Nissan, we are determined to preserve and nurture the Mitsubishi Motors brand, and we will help this company address the challenges it faces, particularly in restoring consumer trust in its fuel economy performance.”
Ghosn said he’d been “reassured” by Mitsubishi’s Chief Executive Osamu Masuko over the size and scope of the fuel economy scandal.
Ghosn: We have ‘track record’ to make it work with Mitsubishi Motors https://t.co/PRn0t6G4hm pic.twitter.
The deal is a lifeline for Mitsubishi which has seen its shares almost halve in value after admitting overstating fuel economy figures for some of its models”:http://www.euronews.com/2016/05/11/further-mileage-test-irregularities-by-mitsubishi-report/.
Nissan Chief Executive Carlos Ghosn said the two would now share and jointly develop technology, and save “billions“ through synergies: “At Nissan, we are determined to preserve and nurture the Mitsubishi Motors brand, and we will help this company address the challenges it faces, particularly in restoring consumer trust in its fuel economy performance.”
Ghosn said he’d been “reassured” by Mitsubishi’s Chief Executive Osamu Masuko over the size and scope of the fuel economy scandal.
Ghosn: We have ‘track record’ to make it work with Mitsubishi Motors https://t.co/PRn0t6G4hm pic.twitter.