Nissan CEO stirs fear in Mitsubishi factory town
Employees are rattled, suppliers uncertain about future after Carlos Ghosn announces his firm will acquire 34% of scandal-tainted carmaker
Tokyo
INVESTORS cheered when Nissan Motor Co chief executive Carlos Ghosn announced in May that his company would acquire a 34 per cent stake of scandal-tainted Mitsubishi Motors Corp as part of an expanded strategic partnership. The reaction has been far less buoyant in Mizushima, an industrial town in southern Japan that's home to Mitsubishi's flagship assembly plant.
Back in April, Mitsubishi Motors shocked its suppliers, employees and the entire automotive industry when it disclosed that it had improperly tested the fuel economy performance of four minicar models built for its joint venture with Nissan and had manipulated related data.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US