YOKOHAMA, Japan – Nissan Chief Executive Carlos Ghosn is confident the 237 billion yen ($2.2 billion) investment to take a controlling stake in scandal-embroiled Mitsubishi Motors will prove a bargain when sheer size is increasingly critical in the auto industry.
Ghosn spoke to reporters at Nissan Motor Co.'s Yokohama headquarters Friday, a day after he announced the agreement with Mitsubishi Motors Corp.
He said he saw an opportunity as Mitsubishi shares nose-dived after a scandal surfaced over fraudulent mileage it had given for several minicar models.
He stressed the deal won't become final until he sees the outcome of the Japanese regulators' investigation into the scandal.
But he says the massive money needed to develop clean emissions technology and adapt to other changes in the auto industry means being big is a plus.