Vietnam remains an important base for Mitsubishi Motors

MMV came into being when Vietnam's automotive industry began taking shape in 1994 when the Japanese carmaker linked up with Vietnamese partners to establish the production and sales company. Along with its growth in the Vietnamese automotive market, MMV has become one of the key firms supporting Mitsubishi Motors’ growth strategy in ASEAN.

The company's vehicles have enjoyed strong sales this fiscal year, with the Xpander ranked among the top three vehicles in sales for four consecutive months up to July, and the Xforce the best-selling vehicle for two consecutive months since July. The new Triton was introduced to the Vietnamese market in September with the aim of achieving further growth in sales volume.

Speaking at the ceremony, Takao Kato, president and CEO of Mitsubishi Motors said, "Mitsubishi Motors has been developing together with the Vietnamese market since its automotive industry started taking shape, and it has now become an important base that contributes to our company’s growth. Going forward, we will strive for further expansion in production and sales, supporting the development of the automotive industry and the local economy."

As reported by Nikkei Asia Review, Mitsubishi Motors plans to maintain production in Vietnam despite the firm hoping for more supportive government policies, with some predicting the Vietnamese market could double by 2030 in terms of unit sales.

Mitsubishi Materials Corporation will acquire 100 per cent of H.C. Starck Holding (Germany) GmbH from Masan High-Tech Materials Group for an equity purchase price of $134.5 million.

Mitsubishi Corporation signed a MoU with Vingroup on May 30 for comprehensive strategic cooperation in five key areas ranging from urban development to the automotive industry.

Vietnam's Kim Long Motors Hue JSC and China's Yuchai JSC started construction of a motor engine manufacturing and assembly plant in the central province of Thua Thien-Hue on August 23, with an investment of around $260 million.