Mitsubishi scoffs at Renault holding firm; CEO concerned that management would not be on 'equal footing'

Mitsubishi Motors Corp. is locking arms with Japanese ally Nissan Motor Co. against any plan to fold the Japanese duo into a holding company with their global alliance partner Renault. Masuko's sentiments echo comments from Nissan, which took a controlling stake in Mitsubishi in 2016 under the direction of Nissan's then-leader, Carlos Ghosn, to bring the smaller automaker into the Renault-led Franco-Japanese alliance. From the Tokyo jail where he has been held since Nov. 19, Ghosn said he had been planning to merge Mitsubishi, Nissan and Renault in a way that ensured "autonomy under one holding company."