Renault, Nissan And Mitsubishi To Announce 'Massive' Deal
11 October 2016 - carscoops
The Renault-Nissan Alliance is on the verge of a $2.2 billion deal with Mitsubishi to acquire 34 per cent of the Japanese company in a move which could have massive impacts on all three automakers.
During the Paris Auto Show, Renault-Nissan chief executive Carlos Ghosn told Automotive News that he expects authorities to approve the multi-billion acquisition and that when they do, exact details about what the companies do together will be announced.
"This is not a deal where we say, 'OK, we made the deal, now let's think what we can do together," he said.
"No. The day we announce the deal, we're going to tell you exactly what we're going to do together. And it's massive. It's massive between Mitsubishi and Nissan. And also, it may be very significant between Renault and Mitsubishi."
Although we won't learn about the specifics until the acquisition is approved, Ghosn said that he wants Mitsubishi to become part of the Renault-Nissan Alliance, meaning the three would be closely linked in management, vehicle development, r&d and purchasing.
"Mitsubishi in this case will join the alliance. The alliance is about developing synergy. We know that there are a lot of synergies with Mitsubishi and strategically we have a lot of connection," Ghosn concluded.