Part 5/13:
In 2016, Nissan acquired 34% of Mitsubishi Motors, forging the Renault–Nissan–Mitsubishi Alliance, promising scale, cost-efficiency, and market leverage. The alliance appeared unstoppable until revelations of accounting misconduct shattered the facade.
The Ghosn Scandal and Its Fallout
In late 2018, Ghosn was ousted amid allegations of under-reporting income and misappropriating company assets. He famously fled Japan for Lebanon to avoid trial, escalating the scandal into an international spectacle. Ghosn’s fall from grace destabilized the alliance, causing share prices to plummet and igniting a PR crisis. Mitsubishi distanced itself, and Renault began restructuring leadership and strategy.