Beleaguered automaker Mitsubishi may get a quick reprieve as word has emerged that Nissan will purchase a 33 per cent stake in them. They (Nissan) are expected to invest about 1.8 billion USD and the 33 per cent share would make Nissan Mitsubishi’s largest shareholder.
If Nissan goes ahead with the move, it will be a major boost for Mitsubishi in terms of capital, technical support and obviously expansion of model range. The company’s share value took a major hit the day it announced the scandal and has been struggling to come back from the same.
Mitsubishi had on April 20 revealed that it had been falsifying fuel economy ratings for four models that it produced including two that it manufactured for Nissan. It said that it had conducted the required tests improperly to present better consumption rates.