Mitsubishi hasn’t been doing too hot in recent years with sales relatively stagnant and a fuel economy problem in Japan. While many enthusiasts didn’t have much hope for the future of the small Japanese underdog, Mitsubishi’s faults could lead to its growth. Nissan finalized its acquisition of a majority stake in the company in October and it seems to be going well so far.
Renault-Nissan added Mitsubishi to its list of partners to become the third largest auto group in the world, falling behind Toyota and Volkswagen. In total, Nissan spent a whopping $2.3 billion for a 34% stake in Mitsubishi.
Nissan plans to use the expertise of both companies to create a driving force in automotive markets around the world. Mitsubishi boasts a strong truck segment outside of the United States and Nissan could very well use that expertise to increase its offering in the truck-happy country.
In the same way, Nissan’s development of self-driving technology and Mitsubishi’s popular hybrid systems could lead to good things as well.
“We are going to show that Mitsubishi Motors has more potential than has been shown so far,” said Carlos Ghosn, CEO of Renault-Nissan.
When Nissan takes control of Mitsubishi, it can only lead to good things for the automotive industry as a whole.
We here at Coronet Mitsubishi are pumped to see what incredible things the future holds for Mitsubishi!