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CEO Carlos Ghosn Teases ‘Massive’ Deal Between Renault-Nissan & Mitsubishi

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CEO Carlos Ghosn has been teasing a major deal between Renault-Nissan and Mitsubishi even before the 34% acquisition of the former has been approved.

Ghosn told Automotive News at the Paris Motor Show that he was confident government authorities would approve the acquisition before the end of the year. The purchase is worth $2.2 billion and would have a major impact on all three automakers.

“This is not a deal where we say, ‘OK, we made the deal, now let’s think what we can do together,” he told reporters in Paris. “No. The day we announce the deal, we’re going to tell you exactly what we’re going to do together. And it’s massive. It’s massive between Mitsubishi and Nissan. And also, it may be very significant between Renault and Mitsubishi.”

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Though Mitsubishi already supplies Nissan with small cars for Japan, Ghosn envisions a much bigger relationship between the two automakers and even wants to make Mitsubishi part of the global Renault-Nissan alliance. For the last 17 years, Renault and Nissan have been closely linked in R&D, vehicle development, management, and purchasing—and Mitsubishi could soon be tapping into that.

“Mitsubishi in this case will join the alliance. The alliance is about developing synergy,” said Ghosn. “We know there are a lot of synergies with Mitsubishi and strategically we have a lot of connection.”

Still, that’s just part of the stuff we already know: the $2.2-billion acquisition of 34% of Mitsubishi by Renault-Nissan. When it comes to the huge deal that Ghosn has been teasing, we’ll have to wait before we get more details. As soon as the acquisition is approved, though, Ghosn promises to spill the beans.

Stay tuned.

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Source: Automotive News