Nissan control of Mitsubishi makes Carlos Ghosn the king of electrified cars
Renault-Nissan CEO Carlos Ghosn electrifies the car industry with a ¥237bn share deal to join the big boys’ club as Mitsubishi chairman
Renault-Nissan CEO Carlos Ghosn has just made himself the king of electrified cars. Ghosn’s alliance was already the world’s biggest seller of battery-electric cars. Taking over 34% of Mitsubishi Motors for ¥237bn means Nissan now has a controlling interest in the world’s biggest maker of plug-in hybrid cars and SUVs as well. Ghosn has brought Mitsubishi under the umbrella of Renault-Nissan and placed himself as its chairman, though he has asked current chairman and president Osamu Masuko to stay on as president. Another three Nissan executives will join the Mitsubishi board, including chief operating officer Trevor Mann. While Masuko asked to take the blame for Mitsubishi’s fuel-economy scandal (uncovered by Nissan as part of a badge-engineering deal), Ghosn insisted he would play a big part in restructuring the brand. Mitsubishi revealed in April that it had cheated on fuel-economy tests affecting 624,000 cars sold in Japan, though 468,000 of them were sold as Nissans, which is ho...
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