Yesterday’s vague Japanese media reports proved right this morning, as Nissan Motor Co. announced it will purchase a 34 percent controlling stake in scandal-plagued Mitsubishi Motors.
Taking advantage of Mitsubishi’s reduced market value following the company’s admission of cheating on Japanese fuel economy tests, Nissan’s 237 billion yen ($2.2 billion) bulk buy of shares makes it the automaker’s largest shareholder.
It’s a big win for Nissan, which can take credit for exposing the gas mileage scandal less than a month ago. (Read More…)
Fiat-Chrysler CEO Sergio Marchionne can see a beautiful future with partner Google, but there’s plenty of fish in the sea, you know.
Speaking in Windsor, Ontario, where Chrysler Pacifica minivan production recently kicked off, Marchionne called FCA’s Google fling the “first phase” of their relationship, but admits to wanting to keep his options open, Automotive News reports. (Read More…)
Like a bad reality show, the figurative clock is ticking for the Toyota/BMW courtship that may or may not be spawning a sports car.
Reuters reported (via Automotive News Europe) that Toyota spokesman said the companies would make a decision on whether to pursue the joint project further.
“By the end of the year we will approve whether or not we will make it,” a Toyota spokesman told Reuters. “The whole study before that, on what kind of platform, on what kind of architecture, that’s been progressing quite well. We haven’t yet decided to give the green light to the project, but it’s coming up.”
Speaking to journalists in Frankfurt, Nissan chief Carlos Ghosn told journalists that he’d be open to any alliance with an automaker if the opportunity presented itself.
“Any single opportunity we have in front of us … we will entertain,” Ghosn said, according to The Detroit Bureau.
Nissan and Daimler together released Wednesday an update on its joint projects including its factory in Aguascalientes, Mexico that’ll produce both the Infiniti Q30 and Mercedes-Benz GLA.
Despite its struggles in its native market — and, perhaps, because of said struggles — Mahindra & Mahindra is seeking to build alliances with a trio of automakers to develop its global presence.
Fiat Chrysler Automobiles CEO Sergio Marchionne is open to forming new alliance with other automakers as far as cost-savings are concerned, but he maintains that Alfa Romeo is not for sale.
Long rumored to wear the Alfa Romeo badge, the next-generation Mazda MX-5 may instead don a Fiat or Abarth necklace in 2015 if Fiat Chrysler Automobiles CEO Sergio Marchionne has the last word.
The 3 billion euro ($4.1 billion USD) three-way deal between PSA Peugeot Citroen, Dongfeng and the French government, signed this week, is set to inject new capital and a much needed life extension for Peugeot, though at the expense of the Peugeot family ceding control after two centuries.