Union Nissan and Mitsubishi will allow the companies to pool resources to work on electric vehicles.
Nissan and Mitsubishi have confirmed that are in talks about combining. Nissan may acquire more than 30% of the shares of the Japanese company and become its largest shareholder.
For buying Nissan will pay about $1.8 billion, the Financial Times reports. Thus, in the hands of partner Renault will be the largest block of shares. Its share will be greater than that of Mitsubishi Heavy Industries, which currently owns a 20% stake in Mitsubishi Motors and is its largest shareholder.
The automakers themselves still prefer not to go into details. In official statements the company stated that “to discuss the different options”, but currently “no decision was taken”.
The prospect of a possible merger with Nissan appeared in front of Mitsubishi after the automaker was in the center of the scandal. His reason was the recognition of Mitsubish in the manipulation of data on fuel consumption by minikani, which are sold in Japan. The automaker has applied the tests measure the efficiency of cars, which did not meet Japanese standards since 1991.
At first it was about the four models, but later the list was increased to 9 models, among which was that of one SUV. Mitsubishi says that the cars are sold in the markets outside of Japan, is not covered.
Since April the company’s shares fell by 43%. Sales minicarb brand in Japan also declined. The decline was reflected in Nissan, which cooperated with Mitsubishi in the field of minicarb from 2011 year. Two models involved in the scandal, was produced for Nissan and sold under this brand.
Experts believe that the Union could play into the hands of both companies. Mitsubishi will get a partner who will help her cope with the aftermath of the scandal. Nissan will strengthen its position in the markets of Southeast Asia. In addition, automakers will be able to pool resources to work on electric vehicles. Both companies paid a lot of attention to this area in recent years.
