Nissan has taken control of Mitsubishi

Carlos Ghosn reinforces his claim to be the world's busiest car exec

Carlos GhosnNissan taken control of Japanese rival Mitsubishi by completing a deal to take a 34% equity stake in the crisis-hit manufacturer.

Mitsubishi will become part of the Renault-Nissan Alliance – which is now one of the world’s top three car groups. Combined, they will this year sell more than 10 million cars.

It means the tireless Carlos Ghosn, already CEO of Renault and Nissan, now becomes chairman of Mitsubishi too. He has conducted a reshuffle of his management time so he can find the time to do it – and one of them is a Brit: Nissan chief performance officer Trevor Mann now becomes COO of Mitsubishi.

Mitsubishi was ripe for takeover after admitting it had been lying about the fuel consumption of dozens of models for the past 25 years. Ghosn, never one to mince his words, admitted Mitsubishi was on the ropes and the equity takeover was one charged with helping it recover.

“We are committed to assisting Mitsubishi Motors as it rebuilds customer trust,” said Ghosn. “This is a priority as we pursue the synergies and growth potential of our enlarged relationship.”

Economies of scale will give the giant new global group “breakthrough technologies and manufacturing capabilities to produce vehicles to serve customer demand in every market segment and in every geographic market around the world.” It possesses a formidable arsenal of size, reach and technology.

“At a time of unprecedented change in the global auto industry, this strategy will build on our existing strengths and management capabilities to ensure increased competitiveness, better products for our customers and attractive returns for shareholders.”

Related Articles

Richard Aucock
Richard Aucockhttps://www.richardaucock.co.uk/
Richard is director at Motoring Research. He has been with us since 2001, and has been a motoring journalist even longer. He won the IMCO Motoring Writer of the Future Award in 1996 and the acclaimed Sir William Lyons Award in 1998. Both awards are run by the Guild of Motoring Writers and Richard is currently vice chair of the world's largest organisation for automotive media professionals. Richard is also a juror and Steering Committee director for World Car Awards and the UK juror for the AUTOBEST awards.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Find a Car Review

Latest

Salon Privé London to host three days of champagne and supercars

Salon Privé London returns to the Royal Hospital in Chelsea next month, with special celebrations of McLaren and the Porsche 911 Turbo.

Kia EV9 is World Car of the Year 2024

The Kia EV9 is the latest pure electric car to be named World Car of the Year – and it also scooped the World Electric Vehicle 2024 prize

New Volkswagen ID.Buzz GTX gets 340hp and all-wheel drive

The retro-styled ID. Buzz people carrier is now offered with 340hp, making for an unlikely addition to Volkswagen’s sporty GTX range.