Mitsubishi Motors has joined the Renault-Nissan Alliance. The resulting group will be the world’s number three in terms of cars sold. But this is hardly a partnership of equals. Mitsubishi was a car company deep in the doo-doo. So it called for help from Nissan.
Mitsubishi, although in profit in 2015, had been hit by several scandals and quality issues. It expects to make a colossal loss of around £1.5bn this year. Most of that loss will follow the revelation that it exaggerated the fuel economy of its tiny Kei cars for more than two decades.
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