Mitsubishi Motors

Mitsubishi Motors will bolster its line-up in Europe through locally producing the new Colt model in Renault Group plants in the northwestern province of Bursa on the horizon of 2023.

Dialing up the alliance with the carmaker Mitsubishi, ​Renault Group announced a win-win strategy on April 5.

Group Renault announced on Friday it was suspending planned capacity increase projects in Romania and Morocco as part of a plan to reduce fixed costs globally. According to a press statement released by the French group, the objective of reducing fixed costs by more than 2 billion euros over 3 years aims to restore the group's competitiveness and ensure its long-term development.

Japanese automotive giant Nissan has announced that Hiroto Saikawa has resigned as chief executive officer and president, effective September 16, the Associated Press reported.

Nissan chairman Carlos Ghosn, one of the world's best-known businessmen, was reportedly under arrest in Japan on Monday in a shocking fall from grace linked to allegations of financial misconduct, reports AFP. 

Japanese media said Ghosn had been arrested after being questioned by Japanese prosecutors for various improprieties including underreporting his income.

Automakers Renault and Nissan say they will develop electric cars with a Chinese state-owned partner, adding to a series of tie-ups between global auto brands and local partners in the biggest electric vehicle market.

The concentration of Greek car importers continues with the signing of a provisional agreement for the acquisition of a majority stake in the P&R Davaris Group, which controls Hyundai Hellas and imports Hyundai and Kia vehicles, by the Vassilakis Group, owner of Autohellas.

Mitsubishi Motors Corp said it had used fuel economy testing methods that were not compliant with Japanese regulations for 25 years, much longer than previously known, and would set up an external committee to investigate the matter.

Mitsubishi Motors Corp said it falsified fuel economy test data to make emissions levels look more favorable, and its shares slumped more than 15 percent, wiping $1.2 billion from its market value on April 20.

Mitsubishi Corp., Japan?s largest trading house, said it will buy shares in and exchange personnel with a unit of Turkish conglomerate Çal?k Holding, as it seeks to win more energy and infrastructure orders in Central Asia and the Middle East.