Rumors of a wobbly Volvo/Mitsubishi truck alliance have resurfaced with reported attempts by DaimlerChrysler to take the reins of a troubled Mitsubishi.
According to Reuters news service, Japan’s Ministry of Transport will file a criminal complaint this week charging the country’s number four auto maker with falsifying regulatory reports. The scandal has led to a management shakeup at Mitsubishi, prompting DaimlerChrysler to work out a new deal that reportedly would give it 38% equity instead of the previously agreed-upon 34% and let it appoint a new board member who would act as chief operating officer.
If that happens, say industry analysts, Volvo could have a tough time holding on to its own deal, which calls for Mitsubishi to spin off its truck division and sell 19.9% to Volvo. Some speculate that the Swedish truck maker now wants 100% of the new truck company. Volvo has only said that it's ready to increase its shares "if the price is right and the opportunity presents itself."
According to Reuters news service, Japan’s Ministry of Transport will file a criminal complaint this week charging the country’s number four auto maker with falsifying regulatory reports. The scandal has led to a management shakeup at Mitsubishi, prompting DaimlerChrysler to work out a new deal that reportedly would give it 38% equity instead of the previously agreed-upon 34% and let it appoint a new board member who would act as chief operating officer.
If that happens, say industry analysts, Volvo could have a tough time holding on to its own deal, which calls for Mitsubishi to spin off its truck division and sell 19.9% to Volvo. Some speculate that the Swedish truck maker now wants 100% of the new truck company. Volvo has only said that it's ready to increase its shares "if the price is right and the opportunity presents itself."
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