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Ghosn to Add New Duties as Chairman of Mitsubishi

“It is going to be difficult.”

by on Oct.20, 2016

Saving Mitsubishi "will require tough decisions," said new Chairman Carlos Ghosn.

Already serving as the CEO of both French automaker Renault, as well as its Japanese alliance partner Nissan, Carlos Ghosn will now become chairman of embattled automaker Mitsubishi.

It will put the Brazilian-born executive in a familiar role. He became chief operating officer at Nissan in 1999, following a $6 billion investment by Renault, and helped turned the then-struggling Japanese company around. Following a series of scandals, Mitsubishi now needs similar help.

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And it could also help boost give a big boost to the Renault-Nissan Alliance, adding just enough volume for the Franco-Japanese partnership to brush aside rival Toyota to become the world’s best-selling auto company.


Nissan Confirms Plan to Buy 34% of Scandal-Plagued Mitsubishi

Fire sale will give it control over smaller maker.

by on May.12, 2016

A "win-win," says Nissan CEO Carlos Ghosn - who also promises Mitsubishi "will change."

Nissan Motor Co. will take a controlling 34% stake in troubled Mitsubishi Motors for $2.2 billion, the two automakers confirmed on Thursday morning, something Nissan CEO Carlos Ghosn described as a “win-win” for both companies.

The announcement came on the same day the larger of the two makers announced that its earnings for the January-March period, the final quarter in its fiscal year, had dropped by 40%, largely due to weak sales and a strong yen.

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The decision to acquire a stake in Mitsubishi comes as the smaller maker continues to reveal damaging information about a secret effort to inflate its fuel economy numbers for as much as a quarter century. That scandal — ironically, triggered by concerns at Nissan over the mileage of cars it sells that are produced by Mitsubishi – have hammered the small maker’s sales and led to a more than 40% dip in its share price over the past month.


Nissan, Mitsubishi Expand Ties

Makers plan to swap more products, including new version of Mitsu Diamante; unclear if Americans will see the results.

by on Sep.23, 2011

Mitsubishi will get a version of the Infiniti M to replace its old Diamante.

Few automakers are more intent on partnering with the competition than Nissan, which is stepping up its cooperative alliance with erstwhile rival Mitsubishi just two weeks after confirming plans to significantly increase its ties to Germany’s Daimler AG.

Nissan and Mitsubishi first agreed to help fill holes in each others’ product line-up in December 2010.  They will now expand the number of vehicles covered by that deal, they confirm.  Among other things, Nissan will get a new battery-powered commercial vehicle, while Mitsubishi will get a replacement for its flagship passenger car, the Diamante.

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The expanded alliance focuses on the two makers’ home market, a jointly-issued statement declaring, “These initiatives are intended to strengthen the competitiveness of both companies in Japan.”

It is unclear whether any of the products developed under the partnership will be marketed outside Japan.


Will Mitsubishi, Nissan Partner On Battery Cars?

An alliance could be “a good one,” says Ghosn.

by on Dec.16, 2010

Mitsubishi and Nissan plan to cooperate on conventional vehicles - but may also partner on battery cars like Mitsubishi's iMIEV.

Nissan and Mitsubishi have announced a new joint venture, one that will have the two Japanese makers working together on a new minicar and other products.  But the two are apparently looking at other options that could include the joint production of electric vehicles – an emerging market segment where both makers have been staking out an early lead.

Nissan’s tie-up with the smaller, still-struggling Mitsubishi is just the latest partnership engineered by Ghosn, who first went to Tokyo in 1999 to manage an alliance between Nissan and the French automaker, Renault.  Since then, Ghosn has pushed the partners into a variety of other alliances and joint ventures, including a far-reaching partnership with Germany’s Daimler AG.

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“In the global auto industry, cooperation on specific projects among automakers is becoming increasingly common,” Ghosn said at a Tokyo news conference.  ”It is, in fact, a signal of how our industry is evolving to sustain success over the long term, by leveraging size, scale and investments more effectively to create more value.”