Last May, the company announced that they would purchase about 34% of the stocks by the time the Nissan Mitsubishi deal would take effect. Just today, news confirmed the merger to be effective. In fact, $2.3 billion was purchased by the former whose value is for the Nissan-Renault Alliance budget.

The Mitsubishi Motors Scandal

Earlier, Mitsubishi Motors experienced a downfall when they were raided for a fuel-economy scandal. Since then, the company had been banking on getting their feet up again in the automobile market and redeem their reputation.

Nissan initially announced in May that they would be the company to help Mitsubishi Motors up. In fact, the company showed interest for the Nissan-Renault Alliance which would cover improvements on vehicle platforms along with the technological features of the model, according to Auto Blog.

The Deal Is On

Just today, the Nissan Mitsubishi deal had been deemed to have effectuated as the company bought 34% of the company's shares. With that, it had been revealed that the deal cost Nissan about $2.3 billion.

With the Nissan Mitsubishi deal effectuation, the merger was expected to make the incoming model to harness designs from both parties particularly with the vehicle to be sold in the U.S.

The 17-year old alliance between Nissan and Renault SA was said to have produced 10 million vehicles every year, according to the Wall Street Journal.

During an interview, Carlos Ghosn, the chief executive of Renault SA and Nissan, manifested that the Nissan Mitsubishi merger would enable the franchise to gain a competitive advantage in the market. Also, the Mitsubishi chief operating offer would also be lodged as the top lieutenant for the project as well.

With the Nissan Mitsubishi deal effectuated, what can the fans expect for the upcoming model Nissan-Renault Alliance would create? Will the model showcase more of the Mitsubishi Motors designs or that of Nissan?