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Nissan's purchase of Mitsubishi is officially official

After the company's announcement in May, the Nissan's purchase of a 34 percent stake in Mitsubishi is now official. The deal cost Nissan $2.3 billion, according to the Wall Street Journal, and brings Mitsubishi into the Nissan-Renault Alliance. The company explained that this new partnership will manifest itself in shared vehicle platforms and technology, joint purchasing, and shared manufacturing. Nissan also said that this purchase will make the company one of the three largest companies by volume in the world. Nissan also emphasized that Mitsubishi will very much be a partner in the current alliance with Renault. In addition, Carlos Ghosn, CEO of both Nissan and Renault, has been nominated to be the new chairman of the Mitsubishi board. With Ghosn at the head of the board, current Mitsubishi president and CEO, Osamu Masuko, will remain in his positions but Nissan's current chief competitive officer will join Masuko as co-chief executive officer at Mitsubishi. With these companies now working together, we'll probably start seeing more commonality between Nissan and Mitsubishi products here in the States. It would also be a great opportunity to get some of Mitsubishi's cooler products here. Perhaps Mitsubishi and Nissan will take our hint about the Delica. This article has been revised to clarify that Nissan Motors purchased the stake in Mitsubishi, not the Nissan-Renault Alliance, and to add the value of the purchase. Related Video: News Source: Nissan, Wall Street JournalImage Credit: Issei Kato / Reuters Mitsubishi Nissan Renault renault-nissan alliance

Nissan recalls 3,065 Pathfinders for transmission fluid leak

Nissan is recalling 3,065 units of the 2013 Pathfinder equipped with the CVT, due to a potential transmission fluid leak. On crossovers built from April 18, 2012 to October 3,2012 "inadequate clamping force" on the hose connected to the internal oil cooler can cause the hose to come loose and let fluid escape. A severe loss of fluid can cause the transmission to stop working properly.
The recall is the result of a safety investigation begun last September, when it was thought a recall could involve 110,000 units of the Pathfinder and Infiniti JX35. Asked for comment about how such a large number of vehicles potentially involved could end up with just 3,065 being recalled, Nissan rep Steve Yaeger told Autoblog that Nissan initiated a service campaign for the issue last year - a service campaign notifies owners to take their vehicles to the dealer for repair of "what is generally not a safety issue" - and that there was a "production improvement" that addressed the clamping issue. The service campaign included the vehicles being recalled, but the recall is limited to just those vehicles that were built before the production-line fix.
Nissan will begin informing affected owners next month, at which time owners can take their vehicles to dealers to have the hose clamp repaired. The press release below from the National Highway Traffic Safety Administration has more information.

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan