Mitsubishi Motors fully withdraws from the Chinese market, and its engine business is terminated.

South Korean media: Mitsubishi Motors fully exits the Chinese market!

On July 26, South Korean media "Chosun Ilbo" published an article stating that Japanese Mitsubishi Motors has completely exited the Chinese market, ending its engine parts business.

Mitsubishi Motors recently announced the termination of its joint venture relationship with Shenyang Aerospace Mitsubishi Engine Manufacturing Co., Ltd., and the shutdown of the operations of the joint venture company's engine business.

Shenyang Aerospace Mitsubishi was established in 1997, a joint venture between Mitsubishi Motors and China Aerospace Automobile, and began supplying engines to local Chinese automakers from the following year.

After Mitsubishi Motors exited the production and sales of complete vehicles in China in 2023, the engine supply business continued, but this decision will completely exit the Chinese market, withdrawing from all business areas.

Mitsubishi Motors explained that due to the transformation of the Chinese automobile industry towards electric vehicles, the company re-evaluated its strategy in the Chinese market and decided to withdraw.

Mitsubishi Motors first entered the Chinese market in 1973, exporting medium trucks; it officially entered the Chinese market in 1983, cooperating with Beijing Automotive Industry Company to produce and sell cars for the first time in China.

Since the establishment of the joint venture Guangzhou Mitsu (GAC Mitsubishi) in 2012, Mitsubishi has begun to make its mark in the Chinese market. In 2018, GAC Mitsubishi's annual sales exceeded 140,000 units, setting the best performance record for Mitsubishi Motors since entering the Chinese market.

However, due to factors such as the technological progress of Chinese manufacturers and the rise of new energy vehicles such as electric vehicles, Mitsubishi's decline has become increasingly evident, and GAC Mitsubishi was dissolved in 2023.

Some comments stated, "The 'Mitsubishi engine' once a marketing selling point for car brands, is no longer an attractive modifier. Chinese auto manufacturers such as Geely, Great Wall, and BYD that once used Mitsubishi engines are now promoting independently developed engines."

Original: https://www.toutiao.com/article/1838709125700681/

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