Mitsubishi Motors is revising its Southeast Asia-focused strategy. In response to the rise of Chinese EVs, the company is reviewing its policy of concentrating on the region. The CEO discussed this issue at a briefing on the long-term vision held at the end of May.
Mitsubishi Motors has indicated its intention to review its business strategy centered on Southeast Asia. The company is reconsidering its regional allocation in an effort to compete with electric vehicles (EVs) from Chinese manufacturers.
For many years, the company sought growth by making Southeast Asia its core market under former President Osamu Masuko (益子修), but competition has intensified with the rise of Chinese manufacturers.
At a briefing on its long-term vision announced at the end of May, CEO Takao Kato (加藤隆雄) was reported to have expressed the intention to review the allocation of products for ASEAN markets.
Mitsubishi Motors began local production in Thailand in 1966, and its Southeast Asia-centered structure has continued for many years. It remains uncertain whether the company can increase sales volume by introducing new models for developed markets, and future developments are being watched closely.