Mitsubishi Motors President “Very severe environment continues” Discussions on Chinese business | NHK | China

2023-05-09 12:59:38

Mitsubishi Motors manufactures engine vehicles in a joint venture with a Chinese manufacturer at a factory in Hunan Province, China, but sales have been sluggish amid the rapid spread of EVs, etc., and from March to May this year. has stopped production.

At today’s financial results conference, President Kato commented on the Chinese business, saying, “The business environment in China continues to be very difficult. At this stage, we have not decided to withdraw, but it is clear that some kind of reform is necessary. We are discussing what kind of measures are good,” he said, revealing that he is discussing with local partners.

Regarding the resumption of production following June, President Kato said, “I would like to make a decision while carefully monitoring the situation.”

On the other hand, Mitsubishi Motors’ financial results for the entire group in fiscal 2022 showed a record high with a final profit of 168.7 billion yen, an increase of 2.2 times from the previous year.

This was mainly due to the effect of the weaker yen, which boosted profits, and the progress made in reducing costs by concentrating management resources in the mainstay Southeast Asian market.

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