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Mitsubishi Motors targets Brazil, India
NEW DELHI, JAN 16 (AGENCIES):
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Published on 16 Jan. 2011 11:33 PM IST
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Mitsubishi Motors Corporation will streamline production in developed nations and increase output in emerging markets, including Brazil and India under a new global strategy, the Nikkei business daily said.
The automaker aims to quickly lift global production to 1.5 million units by redistributing business resources, up 50% from the financial year 2009, the paper said. Mitsubishi Motors plans to spend an estimated $241.5 million to obtain a stake of at least 50% in MMC Automotores do Brasil SA, a firm that currently handles its production in Brazil. The Brazilian firm’s plants will be expanded in the financial year 2010-11, with annual production capacity of four-wheel-drive vehicles and other cars to be doubled to at least 100,000 units, the Nikkei reported.
The automaker, which plans to launch output in India, is considering taking a stake in a firm to which it outsources production, the paper reported. Mitsubishi is also exploring a joint venture in India with France’s PSA Peugeot Citroen SA, the business daily said. It also aims to manufacture low-priced vehicles based on minicars jointly developed with Nissan Motor Co, the Nikkei said.

 
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