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November 13, 2018

Mitsubishi to invest in local parts sourcing in Vietnam

Mitsubishi Motors plans to expand its operations in Vietnam, as it looks to increase its exposure to one of Asia's most promising developing markets, according to reports in the region.

By bcusack

Mitsubishi Motors plans to expand its operations in Vietnam, as it looks to increase its exposure to one of Asia's most promising developing markets, according to reports in the region.

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The Vietnamese vehicle market has tripled since hitting a low of just over 80,000 units in 2012, according to data released by the Vietnamese Automobile Vehicle Manufacturers Association (VAMA).

Last year, overall sales declined by close to 8% to 251,000 units, but have begun to recover in recent months. 

Mitsubishi remains a small player in this market, however, with just 6,672 sales last year according to the association. 

Speaking at a launch ceremony for the Triton pickup truck, Mitsubishi's CEO Osamu Masuko said his company was planning to increase local component and materials sourcing in the country. He believes it is time to move the Vietnamese operations on from being just a completely knocked down (CKD) kit assembler to the next level.

He told the Nikkei Asia Review "to be a true winner, we must develop production and exports to certain levels in each country".

The company currently has a small assembly operation in the southern province of Binh Duong with a production capacity of just 5,000 vehicles per year.

It is currently building a second plant in the country which is scheduled to become operational by 2020 with an annual capacity of up to 50,000 vehicles.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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