Mitsubishi Corporation

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October 12, 2012
Mitsubishi Motors Corporation
Mitsubishi Corporation

GAC Mitsubishi Motors Co., Ltd., a Joint Venture of Guangzhou Automobile Group Co., Ltd., Mitsubishi Motors Corporation and Mitsubishi Corporation, Commences Operation

TOKYO, October 12, 2012 - Mitsubishi Motors Corporation (MMC) and Mitsubishi Corporation (MC) are pleased to announce the commencement of operations of GAC Mitsubishi Motors Co., Ltd. (GMMC) in Changsha, Hunan Province, China.
 
GMMC will produce and sell MMC cars in China. Guangzhou Automobile Group Co., Ltd. (GAC), MMC and MC will respectively hold 50%, 33% and 17% shares in GMMC.
 
In 2009, Hunan Changfeng Motor Co., Ltd. (CFA) became an affiliate of GAC, as GAC Changfeng Motor Co. Ltd. (GACCF). GAC acquired GACCF this year, and today GAC, MMC and MC have joined forces to form GMMC, a new joint venture.
 
GMMC inherits the factory (Xing Sha Factory), supply-chain, distribution channel and marketing know-how available from GACCF.
 
GMMC will commence the production of the 2013 ASX compact SUV from late October. To respond to the highly growing demand for SUVs in the Chinese automobile market, GMMC also plans to add another production model to its portfolio, the genuine off-road SUV Pajero Sport.
 
GMMC will cater to the diversified needs of the largest automobile market in the world by continuously offering Chinese consumers with attractive vehicles; including but not limited to SUVs.

 
 
<<Company Profiles >>
 
1.
Company Name
 
GAC Mitsubishi Motors Co., Ltd.
 
2.
Head Office
 
Changsha, Hunan, China
 
3.
Established
 
September 25, 2012
 
4.
Start of Business
 
September 25, 2012
 
5.
Capital
 
CNY 1.7 billion (GAC: 50%, MMC: 33%,
MC: 17%)
 
6.
Corporate Officers
 
Zhang Fangyou, Chairman
 
 
 
Daisuke Tatsumi, President
 
7.
Employees
 
approximately 1,500 (as of September, 2012)
 
8.
No. of Sales Outlets
 
60 (as of September, 2012)
 
9.  
Production Capacity
 
50,000 units/year (as of September, 2012)
 
10.
Models Produced
 
ASX, Pajero (V73)
 
 
 
 
1.
Company Name
 
Guangzhou Automobile Group Co., Ltd
2.
Head Office
 
Guangzhou, Guangdong, China
3.
Established
 
June 2005
4.
Capital
 
CNY 6.15 billion
5.
Scope of Business
 
Production and sales of automobiles, engines, and other automobile parts
6.
Revenue
 
CNY 10.984 billion (for the year ended December 31, 2011)
 
1.
Company Name
 
Mitsubishi Motors Corporation
2.
Head Office
 
33-8, Shiba 5-chome, Minato-ku, Tokyo 108-8410, Japan
3.
Established
 
April, 1970
4.
Capital
 
JPY 657 billion (as of March 31, 2012)
5.
Revenue
 
JPY 1,807 billion (for the year ended March 31, 2012)
 
1
Company Name
 
Mitsubishi Corporation
2.
Head Office
 
3-1, Marunouchi 2-Chome, Chiyoda-ku, Tokyo 100-8086, Japan
3.
Established
 
April, 1950
4.
Capital
 
JPY 204 billion (as of March 31, 2012)
5.
Revenue
 
JPY 20,126 billion (for the year ended March 31, 2012)

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