May 12, 2016 08:26 pm GMT
More about Business, Mitsubishi, Nissan, Transportation, and Cars
Original Link: http://feeds.mashable.com/~r/mashable/tech/~3/jRLsBf_VBQo/
Nissan buys controlling share in Mitsubishi for $2.1 billion
Mitsubishi, days after admitting it had falsified fuel-efficiency ratings, just got snapped up by Nissan.
Nissan Motors announced Thursday that it will be purchasing a 34% stake in Mitsubishi Motors for $2.1 billion. The buying up of Mitsubishi shares will give Nissan a controlling stake in the carmaker.
The move comes just days after Mitsubishi admitted it had knowingly manipulated fuel economy tests on some of its global subcompact models. Intriguingly, the fraudulent efficiency figures affect Nissan, too, as the two had a technical partnership for several years. This meant Nissan sold rebadged Mitsubishi models as its own. Read more...
Original Link: http://feeds.mashable.com/~r/mashable/tech/~3/jRLsBf_VBQo/
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