Reuters reports that Mitsubishi Motors Corp (MMC) said on Friday it would keep its car assembly plant in Adelaide, South Australia running for the time being, but added that it could not guarantee its future after seven years.

"In our business - for anyone in the auto industry - it is not possible to guarantee the future seven years ahead," Chief Executive Officer Yoichiro Okazaki told a news conference.

MMC plans to introduce a new model in Australia in 2005 to replace the current Magna and Verada sedans, sold as the Diamante elsewhere, Reuters said.

MMC said earlier it would close its engine plant in Adelaide.