Mitsubishi Motors has been struggling a bit lately, due almost entirely to a fuel economy stats “mishap” that caused the automaker’s shares to plummet in the Japanese market. But fear not: Nissan is here to save the day.
Nissan has purchased 506.6 million shares in Mitsubishi Motors, totaling at around $2.2 billion and essentially making Nissan the controlling stakeholder of the company, with 34 percent of Mitsubishi’s stock.
Though Mitsubishi’s struggles are unfortunate, Nissan rescuing Mitsubishi is actually a huge victory for both companies. Mitsubishi is getting a much-needed influx of cash and Nissan now has another popular line of automobiles to sell.
In fact, this is enormous news for Mitsubishi dealerships here in the United States, which could have found themselves closing doors if the automaker decided to scale back internationally. Now, it’s safe to say that Mitsubishi is here to stay.
With a scandal behind it and a new major stockholder supporting it, Mitsubishi Motors is getting back on its feet and will be stronger than ever.