Last updated: Apr 20, 2019 | 869 Views | BLOG
Mitsubishi, Nissan tighten bonds in Thailand
Mitsubishi and Nissan are strengthening collaboration in Thailand in terms of financing, purchasing and production engineering.
Last year the Renault-Nissan Alliance took a controlling 34-per-cent stake in ailing Mitsubishi Motors, making it an equal partner. New business plans have been announced at the global level, and will start taking effect in 2018. According to the Alliance 2022, a six-year plan announced in September that has set a new target to double annual synergies to 10 billion euros by the end of the plan, Renault, Nissan and Mitsubishi Motors will accelerate collaboration on common platforms, powertrains and next-generation electric, autonomous and connected technologies. In addition, synergies will be enhanced by the group’s growing scale. Total annual sales are forecast to exceed 14 million units, generating revenues expected at US$240 billion by the sixth year. Meanwhile in Thailand, Morikazu Chokki, president of Mitsubishi Motor (Thailand), said Mitsubishi and Nissan have started sharing vehicle logistics and financing, with Nissan Leasing stepping in to start up Mitsu Leasing to serve Mitsubishi customers. Engineers from both companies will also collaborate in joint purchasing cost reduction and vehicle production.
“We have already commenced the collaborations and we plan to increase the level of cooperation in the future,” he said. Mitsubishi was highly successful in 2017, with sales of almost 70,000 units, an increase of 26 per cent and equal to a market share of 9 per cent. Mitsubishi hopes to grow sales this year with the launch of the Expander SUV model from Indonesia during the midyear period, apart from 3 minor change models. Mitsubishi exports from Thailand grew by 2 per cent to 333,000 units last year. CBU exports dropped by 6 per cent, as more CKD parts from Thailand were sent for local assembly in the Philippines and Indonesia, Chokki said. He said Mitsubishi Motors is a specialist in plugin hybrid and EV (Electric Vehicle) technology, and is studying possibilities of filing for investment promotion with the BOI within this year
Source: http://www.nationmultimedia.com , 2nd Feb 2018