Mitsubishi Motors Corporation (MMC) is now an official member of the Renault-Nissan Alliance group, following the completion of a substantial takeover (34 percent) right after the scandal. At the same time, one of the industry’s greats, Carlos Ghosn, is there to save Mitsubishi.
Nissan has roped in four key individuals to revive the ailing three-diamond brand, with Carlos Ghosn set to be chairman of the board. The move, according to MMC President and Chief Executive Officer Osamu Masuko, will provide strategic, operational and management support to the company. Rebuilding customer confidence and seeking potential future synergies are also part of the plan for Mitsubishi.
The first on the agenda for Mitsubishi and Nissan is a five-year joint venture in exploring minicars, where both companies will share parts and technology. Mitsubishi could benefit from Nissan’s autonomous technology while offering its plug-in electric hybrid system to Nissan as a synergistic exercise.
Carlos Ghosn has had a proven track record in turning things around. Notoriously known for his no-nonsense leadership and radical cost-cutting antics that saved both Renault and Nissan, he’s also achieved celebrity status in Japan. That said, the once mighty Mitsubishi could really use Ghosn’s touch to bring them back to former glory.