Mitsubishi Motors will double its stake in Hunan Changfeng Automotive Co., China’s top producer of sport utility vehicles, to more than 40% as part of plans to make passenger cars for Asia’s fastest-growing vehicle market, a Changfeng official said, according to Bloomberg News.
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Mitsubishi Motors declined to comment, the report said, noting that, like rivals General Motors and Volkswagen, Tokyo-based Mitsubishi is looking to China for growth as sales slow in North America and Europe.
