Automotive News   |   Automotive News Europe   |   Autoweek   |   Automobilwoche

Automotive News China Newsletter
Register our free newsletter, sent each Monday and Thursday

     Automakers   Suppliers   Auto Show   Comment   Car Cutaway   Newsletters   Press Releases   Register for Newsletter
  Contact Us:   Editorial   Advertising   Subscription Information   |   About Us   Media Kit
Home >> Automaker Email this story   Print this story
Renault-Nissan to help Mitsubishi expand in China
Hans Greimel | 2017/6/27

TOKYO -- Mitsubishi Motors Corp. plans to spur additional sales in China and the United States by using the Renault-Nissan "toolbox" of products, technologies and factories, top executives said. 

Mitsubishi has been unable to gain sufficient traction in the world's two biggest auto markets because it has been short on resources, said Mitsubishi Chairman Carlos Ghosn.
That will be remedied now, Ghosn said Friday in advance of the automaker's annual shareholders meeting. At the press conference, Ghosn was flanked by Mitsubishi CEO Osamu Masuko.

"A lot of this potential depends on new products," Ghosn said of Mitsubishi's turnaround. "There are a lot of needs which have not been addressed by Mitsubishi because Mitsubishi doesn't have the technology or doesn't have the segment or did not have the platform." 

Under the comeback plan, Masuko wants to triple Mitsubishi's China sales to 300,000 vehicles a year in the early 2020s, from fewer than 100,000 in the fiscal year just ended, by introducing new products and expanding the dealer network. 

Mitsubishi will get help from the Renault-Nissan Alliance, the global cross-ownership arrangement that struggling Mitsubishi was brought into last year when Nissan took a controlling 34 percent stake in its smaller Japanese rival. 

Ghosn promised a V-shaped recovery for Mitsubishi, which had profits plunge last year amid a scandal over faked fuel economy ratings. That crisis opened the door for Ghosn, who was then joint CEO of Nissan and Renault, to orchestrate the Mitsubishi takeover and appoint himself its chairman. 

Its recovery plan has begun by focusing mostly on business in Southeast Asia, where it has deep roots. But going forward, it will concentrate more on the U.S. and China, Ghosn said. Expanding there is key because of the vast size of both markets. 

Ghosn promised results, particularly in China, as early as next year. 

"Without any doubt, for me, the potential of development and growth of Mitsubishi in China is very big, and hopefully you will see it immediately, not five years down the road. You're going to see it next year and the year following," Ghosn said. 

Neither Ghosn nor Masuko offered details about what lineup holes Mitsubishi needs to plug. But Masuko said electrified vehicles and crossovers will be the focus going ahead, and Ghosn said the alliance intends to commonize EV components to maximize cost and r&d efficiency.

Related Stories
  • Mazda, Mitsubishi suffer steep sales declines
  •     --Published:2019/11/6
  • Honda Motor extends sales upswing for third straight month; Nissan brand deliveries slide
  •     --Published:2019/7/6
  • Honda sales surge, Nissan deliveries dip in April
  •     --Published:2019/10/5
  • Renault counts on light commercial vehicles, EVs to meet China goals
  •     --Published:2019/7/5
  • Renault, Nissan open Shanghai lab to advance mobility, EV efforts
  •     --Published:2019/30/4
  • Nissan taps Thailand chief to lead China car joint venture
  •     --Published:2019/30/4
  • Honda, Nissan sales rebound in March
  •     --Published:2019/5/4
  • Nissan plans sedan, 2 electrified concepts
  •     --Published:2019/5/4
  • Renault taps Audi Chinese executive to lead JV with Dongfeng
  •     --Published:2019/2/4
  • Nissan CEO, Ghosn sought new alliance partner, China acquisitions
  •     --Published:2019/2/4
  • Ghosn's successor rolls back Nissan's $9 billion China plan
  •     --Published:2019/22/3
  • Nissan, Honda sales dip in February
  •     --Published:2019/8/3
  • Nissan targets 2.6% sales growth in 2019
  •     --Published:2019/15/2
  • Nissan-Dongfeng venture targets 10% sales growth this year
  •     --Published:2019/1/2

    Our Newsletter Editions
    Automotive News China produces two email newsletters each week. You can sort your news by the articles highlighted in each of our newsletters here.

    Select your newsletter     


    Automotive News China
    Room 1303, Building 2, Lane 99, South Hongcao Road,
    Shanghai 200233
    Telephone: 86-139-1851-5816
    Fax: 86-21-6495-0895
    Home | Help Center | About Us | Privacy Policy | RSS
    Entire contents © Crain Communications, Inc.
    Use of editorial content without permission is strictly prohibited. All Rights Reserved.