Nissan and Mitsubishi Announce First Joint Venture in Japanese Automotive Industry
Emissions Scandal, Infiniti, Joint Venture, Mitsubishi, NissanNissan has paid 237bn yen (£1.5bn) for a controlling stake in Mitsubishi Motors, the latest automaker embroiled in the diesel emissions scandal.
The deal reached marks the first joint venture between Japanese auto manufacturers and will call upon all of Nissan’s skills to revive Mitsubishi’s brand reputation.
Mitsubishi’s share price fell 40% following the announcement that it had faked fuel efficiency data across more than 600,000 vehicles in Japan (and potentially beyond to the US and Europe) dating back to 1991.
Nissan and Mitsubishi already have a manufacturing and development partnership in place and this latest ownership news is only set to further strengthen ties between the two manufacturers.
Carlos Ghosn, Nissan’s chief executive has cited the manufacturer’s involvement as a “potential win-win transaction” and the opportunity to restore “consumer trust in [Mitsubishi’s] fuel economy performance”.
We’re keeping our eyes on these developments as any time that creators of the GT-R and Evo come together good things should result.
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