TOKYO, October 13, 2017 — Growth in China will be a driving force for the global expansion of Mitsubishi Motors Corporation (MMC), the company's chief executive Osamu Masuko said yesterday.
Speaking at a ceremony to mark the fifth anniversary of the formation of GAC Mitsubishi Motors Corporation (GMMC), Mr. Masuko said plans for China will be a central part of the company's forthcoming strategy plan, due to be announced on October 18.
Over the three years of the plan from 2017, GAC Mitsubishi Motors Corporation (GMMC) plans to broaden its offering of sports utility vehicles in China, double the number of sales outlets to 400 and begin local engine production.
Mitsubishi Motors expects the growth of its China business to continue strongly into the 2020s. Within the next several years, it expects Chinese sales to reach 300,000 annually.
The ceremony was held yesterday at GAC Mitsubishi Motors Corporation (GMMC) head office, with employees, suppliers and Mitsubishi Motors' Chief Executive, Osamu Masuko, in attendance.
Osamu Masuko, Mitsubishi Motors' Chief Executive, said:
"In our new mid-term plan, which we are announcing in Tokyo on October 18, we will highlight the Chinese market as a driving force behind our wider growth strategy.
We have already seen successes at GMMC over the last five years with the sales of the Outlander steadily increasing.
We plan to make further investment in China, expanding its sales network and strengthening its current product line-up, showcasing ourselves as a carmaker that excels in the SUV market."
About GAC Mitsubishi Motors (GMMC)
GMMC is a joint venture between Guangzhou Automobile Group, Mitsubishi Motors Corporation and Mitsubishi Corporation. It produces and sells Mitsubishi Motors Corporation (MMC) cars in China.
About Mitsubishi Motors Corporation (MMC)
MMC is a global Japanese automobile company which has a competitive edge in pick-up trucks, SUVs, and 4WD technology, present in 160+ markets, led by ASEAN. Starting electromobility development in 1966, the company launched the first mass-produced electric vehicle in 2009 (i-MiEV), which was followed by Outlander PHEV in 2013 - the first 4WD Twin Motor plug-in hybrid electric SUV.
MMC, which employs 30,000 people around the world, has production facilities in Japan, Thailand, China, Indonesia, The Philippines and Russia. Models such as the Pajero Sport, L200 / Triton and Outlander PHEV play a major role in achieving its growth. Global sales volume in fiscal year 2016 was 926,000 units. MMC's net sales for fiscal year 2016 were 1.9 trillion yen. MMC is listed on the Tokyo Stock Exchange.
