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Tokyo, October 12, 2012
GAC Mitsubishi Motors Co., Ltd., a Joint Venture of Guangzhou Automobile Group Co., Ltd., Mitsubishi Motors Corporation and Mitsubishi Corporation, Commences Operation

TOKYO, October 12, 2012 - Mitsubishi Motors Corporation (MMC) and Mitsubishi Corporation (MC) are pleased to announce the commencement of operations of GAC Mitsubishi Motors Co., Ltd. (GMMC) in Changsha, Hunan Province, China.


GMMC will produce and sell MMC cars in China. Guangzhou Automobile Group Co., Ltd. (GAC), MMC and MC will respectively hold 50%, 33% and 17% shares in GMMC.


In 2009, Hunan Changfeng Motor Co., Ltd. (CFA) became an affiliate of GAC, as GAC Changfeng Motor Co. Ltd. (GACCF). GAC acquired GACCF this year, and today GAC, MMC and MC have joined forces to form GMMC, a new joint venture.


GMMC inherits the factory (Xing Sha Factory), supply-chain, distribution channel and marketing know-how available from GACCF.


GMMC will commence the production of the 2013 ASX compact SUV from late October. To respond to the highly growing demand for SUVs in the Chinese automobile market, GMMC also plans to add another production model to its portfolio, the genuine off-road SUV Pajero Sport.


GMMC will cater to the diversified needs of the largest automobile market in the world by continuously offering Chinese consumers with attractive vehicles; including but not limited to SUVs.

The 2013 ASX
new-generation compact SUV
Pajero (V73)
(Production and sales inherited
from GACCF)

<< Company Profiles >>
1.  Company Name
GAC Mitsubishi Motors Co., Ltd.
2.  Head Office
Changsha, Hunan, China
3.  Established
September 25, 2012
4.  Start of Business
September 25, 2012
5.  Capital
CNY 1.7 billion (GAC: 50%, MMC: 33%, MC: 17%)
6.  Corporate Officers
Zhang Fangyou, Chairman
Daisuke Tatsumi, President
7.  Employees
approximately 1,300 (as of September, 2012)
8.  No. of Sales Outlets
60 (as of September, 2012)
9.  Production Capacity
50,000 units/year (as of September, 2012)
10. Models Produced
ASX, Pajero (V73)
1.  Company Name
Guangzhou Automobile Group Co., Ltd
2.  Head Office
Guangzhou, Guangdong, China
3.  Established
June 2005
4.  Capital
CNY 6.435 billion
5.  Scope of Business
Production and sales of automobiles, engines, and other automobile parts
6.  Revenue
CNY 10.984 billion (for the year ended December 31, 2011)
1.  Company Name
Mitsubishi Motors Corporation
2.  Head Office
33-8, Shiba 5-chome, Minato-ku, Tokyo 108-8410, Japan
3.  Established
April, 1970
4.  Capital
JPY 657 billion (as of March 31, 2012)
5.  Revenue
JPY 1,807 billion (for the year ended March 31, 2012)
1.  Company Name
Mitsubishi Corporation
2.  Head Office
3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo 100-8086, Japan
3.  Established
April, 1950
4.  Capital
JPY 204 billion (as of March 31, 2012)
5.  Revenue
JPY 20,126 billion (for the year ended March 31, 2012)

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