CHINA: Mitsubishi buying stake in Chinese assembler
Mitsubishi is planning to purchase a 25% stake in South East Motor of China, according to Dow Jones.
The move was reported in a Japanese newspaper late last Friday (24 March).
The company already assembles some Mitsubishi vehicles, sold under the Chinese company's brand name, and has capacity to produce up to 150,000 vehicles a year.
Mitsubishi already has a 13.97% stake in China Motor of Taiwan, which owns 50% of South East Motor.
The move will allow Mitsubishi to manufacture and sell cars under its own brand in China.