Shanghai, June 24 (Gasgoo.com) Mitsubishi Motors Corp. is discussing with Guangzhou Automobile Group Co., Ltd. (GAC) about their cooperation issue. It is also considering looking for other new joint venture partners in China, media reported recently.
Thanks to its company's strength and its market ideas, GAC is favored by Mitsubishi Motors and is listed as its intentional partner.
Mitsubishi Motors plans to increase the stake in its joint ventures in China to 50% to strengthen its control over them. Mitsubishi Motors wishes to raise its stake in South East Motor Co.; however, this stake is difficult to change.
In terms of looking for new cooperation partners, a source from Mitsubishi Motors revealed that it is in the course of discussing with several new intentional partners, but he refused to specify on details. It is difficult to realize this goal in China if Mitsubishi Motors requests to hold 50% of the stake in its joint venture.
This year, Mitsubishi Motors continues to keep an eye on the Chinese market, aims to sell 180,000 vehicles, which is 1.5 times than last year's sales volume.
Recently, Mitsubishi Motors President Osamu Masuko told media that at the end of this year the decision on who will be their partner in setting up a 50-50 joint venture will be settled.
