Renault-Nissan alliance’s CEO Carlos Ghosn named chairman of Mitsubishi motors

NEW DELHI : Nissan Motor Co. Ltd. has completed its acquisition of 34 per cent stakes in Mitsubishi Motors Corporation (MMC) and is now the largest shareholder in the troubled company. Apart from this, Carlos Ghosn – chairman and CEO of Nissan and Renault as well as of the Renault-Nissan alliance – has been named the chairman of Mitsubishi Motors Corporation. All of this means that Mitsubishi has also joined the Renault-Nissan alliance.   “The combination of Nissan, Mitsubishi Motors and Renault will create a new force in global car-making. It will be one of the world's three largest automotive groups, with the economies of scale, breakthrough technologies and manufacturing capabilities to produce vehicles to serve customer demand in every market segment and in every geographic market around the world," Carlos Ghosn said after Nissan became the largest shareholder in Mitsubishi Motors. Carlos Ghosn was the man behind the resurrection of Nissan, and the Franco-Japanese alliance wouldn’t have borne fruit if it wasn’t for him. Now, the man is on a mission to resurrect Mitsubishi Motors. Ghosn highlighted that Nissan and MMC would collaborate on joint purchasing, deeper localisation, joint plant utilisation, common vehicle platforms, technology sharing and the expansion of the companies' combined presence in both developed and emerging markets. "We are committed to assisting Mitsubishi Motors as it rebuilds customer trust. This is a priority as we pursue the synergies and growth potential of our enlarged relationship," he said. Source : Cardekho.com