Nissan Motor Co. may take a controlling interest in Mitsubishi Motors Corp. with a $1.8-billion investment to acquire a third of the struggling automaker, Reuters is reporting.
The deal would give Nissan the largest share of Mitsubishi's next-highest investor Renault, which holds a 15% share. Renault also holds a 43.4% share in Nissan.
The boards of Nissan and Mitsubishi will meet separately on Thursday, May 12, to consider the proposal.
In late April, Mitsubishi admitted to inflating fuel-economy ratings for approximately 625,000 vehicles sold in the Japanese market, including the eK Wagon, eK Space, and Nissan Dayz, which the automaker created for Nissan Motor.