April 20, 2024 15:13 (IST)
Mitsubishi Motors to set up investigation team to check improper conduct in fuel consumption
Minato, Apr 27 (IBNS) Mitsubishi Motors Corporation (MMC), which had earlier admitted to have used wrong tests to break Japanese rules for 25 years, is setting up a panel of three experts, all from external sources to check on the flaws.
"In connection with the certification process for the mini-cars manufactured by Mitsubishi Motors Corporation ("MMC"), MMC hereby notifies that, yesterday, the board of directors decided to establish a special investigation committee (the "Committee") consisting of only external experts.
MMC expresses its most sincere apologies to all of our customers, shareholders, and stakeholders for any inconvenience or concern caused by this occasion," an official release dated Apr 26, 2016 said.
The committee consists of Keiichi Watanabe, Yoshiro Sakata and Genta Yoshino, who the company says have no conflicts of interest with MMC and the company has recognized no factor that would harm the independence and neutrality of the Committee.
Their activities will consist of the following:
Investigation to uncover the facts surrounding the Matter, including review of related documents and data, and interviews with the related people.
Investigation to confirm the existence of other improper conduct similar to the Matter, and uncover the facts, if it does.
Analysis of the cause of the Matter, and a suggestion on measures to prevent recurrence.
Mitsubishi had earlier revealed that it had falsified fuel economy data for four models.
Reacting sharply to the scandal, Ryugo Nakao, executive vice-president of the company was quoted by BBC as saying, "We should have switched, but it turns out we didn't."
The recent revelations have also affected their shares, which is now on a bearish trail.
This is the second such goof up from the car manufacturers, who were involved in a systematic cover up of vehicle defects almost 15 years ago.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Elon Musk postpones upcoming visit to India: Reports Sat, Apr 20 2024
India's forex reserves contract by $5.4 billion to $643.16 billion Sat, Apr 20 2024
Ola Cabs IPO likely on the cards to raise $500 million: Report Fri, Apr 19 2024
Wipro's headcount drops 9.5% to 2,34,054 in FY24 Fri, Apr 19 2024
Wipro Q4FY24: Net profit drops 8% YoY to Rs 2,835 cr Fri, Apr 19 2024
Jio Financial Services Q4FY24 net profit at Rs 310 cr; NII Rs 280 cr Fri, Apr 19 2024
Sensex jumps up 599 points ending losing streak for several sessions Fri, Apr 19 2024