Mitsubishi Motors (MMC) is believed to be targeting Thailand and China to build low-cost fuel-efficient models, which could retail for around JPYY800,000 (US$8,860), considerably below the current market price.
MMC is evaluating low-cost plants, possibly to supply PSA Peugeot Citroen, while rival Nissan is also thought to be looking at Thailand to produce low-priced compact models and import them to Japan.
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Mitsubishi plans to produce the car with a smaller powerplant than its Colt model, which has a one litre engine.
Variants being considered may include an electric version by 2012 and a plug-in hybrid by 2013.
