Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 27, the Nikkei News reported earlier today that Mitsubishi Motors has decided to stop production in the Chinese market and that the company has begun final exit negotiations with GAC GROUP, a Mitsubishi partner in China.

In response to the Nikkei News report, Mitsubishi Public Relations head Yuji Inoue said the report was not officially released by the company and was "still in dialogue with shareholders and hasn't made any decision yet," Bloomberg reported.

CTOnews.com noted that Nikkei reported that low sales of Mitsubishi Motors had caused the company to stop production in China against the backdrop of the popularity of electric cars in China and the rising brand power of local car manufacturers. GAC-Mitsubishi Motors, a joint venture between GAC and Mitsubishi, has a factory in Changsha, which is Mitsubishi's only factory in China to produce new cars. Affected by low sales, the factory suspended production in March this year.

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