Japanese automaker Mitsubishi stops car production in China.
Japanese automaker Mitsubishi Motors has suspended production in China indefinitely and plans to cut staff.
Writes about it Financial Times.
Mitsubishi tried to compete with local automakers amid the rapid introduction of electric vehicles, but faced stiff competition.
Earlier, a top manager at Mazda said that the Chinese market is entering a phase where “only the strongest will survive.”
Mitsubishi said shareholders in its joint venture with Guangzhou Automobile Group (GAC) will seek to make a difference by revisiting how they have run business in China and “optimize the workforce.” The company emphasized that they are not leaving the market.
The GAC said in a statement that shareholders are “doing their best to protect the legitimate rights and interests of employees.”
Earlier it was reported that the Japanese truck manufacturer Isuzu Motors left the Russian market.
2023-07-15 12:08:00
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