Mitsubishi Motors (MMC) plans to establish a joint venture (JV) with Guangzhou Automobile Group by the end of September, a media report said.
MMC spokesman Yuki Murata told Bloomberg News the 50/50 JV would make the Pajero [aka Shogun or Montero] SUV with annual capacity pegged at 250,000 units within five years.
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Mitsubishi’s present venture with GAC Changfeng Motor currently produces less than half that number. Mitsubishi owns approximately 14.6% of this JV.
The report said Guangzhou is thinking of acquiring GAC Changfeng to allow its parent company to list on Shanghai exchange.
