Mitsubishi Motors has suspended production in China indefinitely and plans to cut staff after the Japanese manufacturer struggled to respond to a rapid transition to electric vehicles in the world’s largest car market.
The pullback by Mitsubishi comes as foreign carmakers face fierce competition with domestic marques. The chief executive of rival Mazda warned on Friday that the Chinese market was entering a phase where “only the strongest will survive”.
Following reports in local media, Mitsubishi said shareholders in its joint venture with Guangzhou Automobile Group (GAC) would seek a turnaround by reviewing how they managed the business in China and “optimising the workforce”, stressing that it was not withdrawing from the market.
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