Home » News » Nissan » After sacking them, Nissan buys stake in Mitsubishi
In a very difficult moment for Mitsubishi, the save comes from its denouncer. Nissan and Mitsubishi Motors Corporation announced that they have signed a Basic Agreement to form a strategic alliance. This means Nissan will take a 34 percent equity stake in Mitsubishi for 237 billion yen.

The strategic alliance will extend an existing partnership between Nissan and MMC, under which the two companies have jointly collaborated for the past five years. We must not forget that Nissan was the manufacturer who announced that its partner, Mitsubishi, cheated in Japan`s consumption tests.

Nissan and Mitsubishi have agreed to cooperate in areas including purchasing, common vehicle platforms, technology-sharing, joint plant utilization and growth markets.

Under the terms of the transaction, Nissan will purchase 506.6 million newly issued MMC shares at a price of 468.52 yen per share. The price per share reflects the volume weighted average price over the period between April 21, 2016 and including May 11, 2016. Nissan will become the largest shareholder of MMC on closing.

The decision by Nissan to acquire a strategic stake in Mitsubishi marks the latest expansion of its Alliance model, built around a 17-year cross shareholding arrangement with Renault. Nissan has also acquired stakes or signed partnerships with other automotive groups including Daimler, and AvtoVaz.

Carlos Ghosn, chief executive and president of Nissan, said: “This is a breakthrough transaction and a win-win for both Nissan and Mitsubishi Motors. It creates a dynamic new force in the automotive industry that will cooperate intensively, and generate sizeable synergies. We will be the largest shareholder of MMC, respecting their brand, their history and boosting their growth prospects. We will support MMC as they address their challenges and welcome them as the newest member of our enlarged Alliance family.”



Related Articles

Leave a Comment

Fields marked with * are required
Name *:
Email *:
Comment *:
Code *:
  CAPTCHA
  • Email
  • YouTube
  • RSS
  • Twitter
  • facebook
  • feedburner

Related Specs

  1. 1990 Nissan 300ZX Twin Turbo

    Engine: Turbocharged V6, Power: 223.7 kw / 300.0 bhp @ 6400 rpm, Torque: 383.7 nm / 283.0 ft lbs @ 3600 rpm
  2. 1964 Nissan Skyline 2000GT

    Engine: G7 Inline-6, Power: 123.0 kw / 165 bhp @ 6800 rpm, Torque: 180 nm / 132.8 ft lbs @ 6000 rpm
  3. 1969 Nissan Skyline 2000GTR

    Engine: S20 Inline-6, Power: 119.3 kw / 160.0 bhp @ 7000 rpm, Torque: 176.26 nm / 130.0 ft lbs @ 5600 rpm
  4. 1987 Nissan Skyline 2000GTS-R

    Engine: RB20DET-R Inline-6, Power: 156.6 kw / 210 bhp @ 6400 rpm, Torque: 245 nm / 180.7 ft lbs @ 4800 rpm
  5. 1998 Nissan Skyline Autech GT-R

    Engine: Twin Turbo Inline-6, Power: 205.8 kw / 276.0 bhp @ 6800 rpm, Torque: 271 nm / 199.9 ft lbs @ 4400 rpm

New Vehicles

Hyundai i30 N Line starts at £21,255 in UKHyundai i30 N Line starts at £21,255 in UK
After a long wait, Hyundai is finally making the most of its new N Performance division. The South-Korean manufacturer has officially announced the pricing ...

Concept Cars

Range Rover Sport P400e prototype unveiled in LARange Rover Sport P400e prototype unveiled in LA
Range Rover used this year Los Angeles Motor Show to unveil two special models, that will define the range in the future years. The prototypes of the ...

Custom Cars

Rolls Royce Privacy Suite introduced in ChinaRolls Royce Privacy Suite introduced in China
Rolls Royce builds the most luxurious cars on the plant. We all know that. In order to provide also the isolation feel some of its clients needs, Rolls ...

Future Cars

Mercedes-Benz Vans launches the Vision URBANETIC conceptMercedes-Benz Vans launches the Vision URBANETIC concept
Mercedes is more and more into autonomous cars and is developing new technologies, fot the moment only at a concept stage. So is the Vision URBANETIC, ...

Market News

Volkswagen Group sold 5.2 million cars in six monthsVolkswagen Group sold 5.2 million cars in six months
After dominating 2016 global sales, topping the chart and removing Toyota from the first position, Volkswagen Groupe is on course of doing so also in 2017. ...

Gadgets

BMW Intelligent Personal Assistant available starting 2019BMW Intelligent Personal Assistant available starting 2019
BMW is ready to follow Mercedes in personal assistance technology. After the Stuttgart-based manufacturer launched the Hey Mercedes assistant, now BMW ...

Various News

Jaguar XE SV Project 8 sets lap record on Laguna SecadJaguar XE SV Project 8 sets lap record on Laguna Secad
Jaguar is hunting records and this time not on the Nurburgring. The UK manufacturer is targeting great performances outside Europe, on US soil. Jaguar’s ...

Motorsports

Audi, the first German brand to race in Formula EAudi, the first German brand to race in Formula E
Formula E is getting more and more popular and big brands are joining competition because it helps them develop new technologies dedicated to electric vehicles. ...

Videos

BMW Z4 Concept - First official videoBMW Z4 Concept - First official video
BMW has officially unveiled the all-new BMW Z4 Concept during the Pebble Beach Concurs dÉlegance. Now it is time to see this beauty in a short footage. ...