Nissan Buys Controlling Stake in Mitsubishi Motors

Nissan Motors has finally bought the controlling stake in Mitsubishi Motors by getting 34 percent of the shares at $ 2.29 Billion. Mitsubishi is now a part of Nissan-Renault Alliance. Osamu Masuko will stay the CEO of the company while there were few rumors of his resignation after the fuel efficiency scandal.

Carlos Ghosn will be the new chairman of this alliance, clearly showing his willingness to bring Mitsubishi back on the track. He said Nissan will correct all of the errors within the management system of the company and would clear the Mitsubishi products from the allegations in the coming time.

The new alliance is expected to cut down the costs by bringing the resources together. The saving figure would even go up to $ 577 million by 2018.

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