Lifeline for Mitsubishi: Nissan Motor Co has agreed to take a 34% stake in Mitsubishi Motors Corp. — Reuters
YOKOHAMA, Japan: Nissan Motor Co has agreed to take a 34% stake in Mitsubishi Motors Corp, taking de facto control with a US$2.2bil (RM8.84bil) bet that bails out its smaller, scandal-hit rival.
The deal is a lifeline for Mitsubishi Motors, which is mired in its third scandal in two decades, but should also be a boost for Nissan. Japan's number two car maker has struggled to make inroads into Asia outside China, in countries like Thailand and the Philippines, where Mitsubishi's models are popular.
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