Group 1 - Mitsubishi Motors has terminated its joint venture with Shenyang Aerospace Mitsubishi Engine Manufacturing Co., marking its complete exit from automotive production in China after 40 years [1][3] - The decision to end the joint venture was influenced by the rapid shift towards electrification in the Chinese automotive industry, prompting a reassessment of the market environment [1][3] - Shenyang Aerospace Mitsubishi has been renamed Shenyang Guoqing Power Technology Co., with Beijing Saimu Technology taking Mitsubishi's place, holding a 49% stake in the company [1] Group 2 - Mitsubishi Motors began its operations in China in the 1970s, initially focusing on engine and auto parts production, achieving a 30% market share in domestic engine supply [3] - The joint venture GAC Mitsubishi was established in 2012, with a peak sales volume of 144,000 units in 2018, but has seen a continuous decline in sales from 133,000 units in 2019 to 33,600 units in 2022 [3] - In October 2023, Mitsubishi announced structural reforms for GAC Mitsubishi, leading to the termination of local production and plans for GAC Aion to utilize the GAC Mitsubishi factory for increased production by June 2024 [3] Group 3 - The challenges faced by Mitsubishi Motors in China reflect broader issues for Japanese automakers in the market, with Suzuki also exiting and other brands like Toyota and Honda experiencing sales declines [5] - In June 2023, mainstream joint venture brands had retail sales of 510,000 units, with Japanese brands' market share dropping by 2.3 percentage points to 12% [5] - The rise of Chinese brands in the new energy sector has increasingly squeezed the market space for weaker joint venture brands, leading to the bankruptcy of GAC FCA, which previously facilitated Jeep's localization [5]
入华40年,知名车企彻底退出中国
Zhong Guo Jing Ji Wang·2025-07-24 11:18