Baku. 24 July. REPORT.AZ/ One of the leading automotive companies in Japan Mitsubishi Motors announced its decision to quit U.S. car production and focus on emerging Asian markets, Report informs referring to Russian RIA Novosti.
Mitsubishi Motors plans to sell the plant in Illinois and to transfer production capacity at plants in Thailand and the Philippines. It does not specify terms of stopping production and the value of the sale of real estate.
The main reason for this decision is called a drop in demand for Japanese cars in US market.
Mitsubishi Motors is a part of Mitsubishi Corporation, founded in 1954. The corporation owns assets in the field of energy, metallurgy, mechanical engineering and consumer goods, and conducts business in more than 80 countries, more than 200 sites. The headquarters of Mitsubishi Corp. in Tokyo, the number of employees amounts to about 60 thousand. people.