Mitsubishi is going to end production of its joint venture cars in China and will transfer its stake in the company to Guangzhou Automobile Group. The Japanese car manufacturer established the joint venture in 2012 but will now become a wholly-owned subsidiary of GAC. The joint venture had built models including the ASX, Outlander, Pajero, Eclipse Cross, Eupheme, and Airtek EV but the plant will now be responsible for building vehicles from GAC’s Aion brand starting in June 2024.
Read: Struggling Mitsubishi Chased Out Of China By Local Brands Soon after making this announcement, Mitsubishi revealed that it would invest up to €200 million in Renault’s newly established electric vehicle venture Ampere. The carmaker will buy various EVs developed and produced by Ampere and sell them under its own brand in a move that will allow it to keep its development costs low. Nikkei Asia reports that new EVs from Mitsubishi will be sold in Europe and Southeast Asia.
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