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.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.
