TOKYO – Nissan Motor Co. is taking a 34 percent stake in scandal-ridden Mitsubishi Motors Corp. in what Nissan Chief Carlos Ghosn said was "a win-win" deal.
Ghosn appeared with Mitsubishi Motors Chairman Osamu Masuko in a hastily called joint conference Thursday in Yokohama, where Nissan is headquartered.
Ghosn said Nissan will invest 237 billion yen ($2.2 billion) to become the top investor in Mitsubishi Motors.
Masuko said Mitsubishi group companies will continue to hold stakes in the automaker.
Mitsubishi Motors has been recently rocked by a scandal over cheating on mileage tests to inflate mileage for minicar models.
Masuko apologized for the scandal but welcomed the alliance with Nissan.
Ghosn, who engineered Nissan's alliance with Renault, said adding Mitsubishi will be a plus in sharing platforms, purchasing and technology.