Mitsubishi Motors has decided to withdraw from automobile production in China, Nikkei has learned. The company has started final withdraw talks with China's Guangzhou Automobile Group (GAC), a major Chinese automobile manufacturer with which Mitsubishi has a joint venture.
Sales for Mitsubishi in China have been sluggish due to the popularity of electric vehicles and the rise of local brands. Other Japanese automakers are also struggling and may review strategies in the country.
GAC Mitsubishi Motors has a factory in Hunan province. The company has halted production since March and will not resume operations.
The Hunan plant is the only factory for Mitsubishi in China.
Source: Nikkei Asia
