Nissan to buy controlling stake in Mitsubishi

[MetroMPG]

Mitsubishi's stock price was recently hammered by revelations the company has been cheating on fuel economy ratings on many Japan market cars.

Nissan just swooped in and bought control of the company while the stock was down about 45%.

(Coincidentally... OR NOT!! ... it was Nissan that uncovered the fuel economy cheating, in a Kei car that Mitsu was supplying to Nissan to re-badge for the JDM.)

Nissan Motor Co has agreed to buy a 34 percent stake in Mitsubishi Motors Corp, taking de facto control with a $2.2 billion bet that bails out its smaller, scandal-hit rival.

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Ghosn said improving performance in kei cars, a Japanese category of small cars, was one key reason for the deal.

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"The biggest benefit to Nissan would be Mitsubishi's presence in Southeast Asia," said Koji Endo, autos analyst at Advanced Research Japan.

Source: http://ca.reuters.com/article/busine...0Y227F?sp=true

Maybe now Nissan can show Mitsu how to do a proper suspension setup for the North American spec Mirage !