MITSUBISHI MOTORS to Procure OEM-models from Renault for Europe

TOKYO, Mar 10, 2021 - (JCN Newswire) - As announced by the Alliance, MITSUBISHI MOTORS CORPORATION (MMC) has decided to procure two OEM-model vehicles for Europe from an Alliance member, Groupe Renault. MMC will introduce them to selected markets in Europe through its sales network, aiming for 2023. The specific OEM-models and market selection are under consideration.MMC has been implementing structural reforms in Europe in line with the "Selection and Concentration" strategy in its mid-term business plans announced in July 2020. It has already frozen the development of new car models for European markets while concentrating its research and development resources and investments on the ASEAN region, where MMC is competitive. As part of those overall structural reforms, MMC has been focusing on optimizing the prices of its model line-up, improving its logistics and fixed costs, and seeking the possibility to realize further efficiency in operations. The company has also decided to end new car sales business in some European countries, by 2023.This movement with Groupe Renault is a part of the business reform in Europe, under which MMC seeks to meet customers' demand.About MITSUBISHI MOTORS

MITSUBISHI MOTORS CORPORATION is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid vehicles. The company launched the i-MiEV - the first mass-produced electric vehicle in 2009, which was followed by the OUTLANDER PHEV in 2013 - a plug-in hybrid market leader in Japan and Europe. Mitsubishi Motors has 30,000 employees and a global footprint with production facilities in Japan, Thailand, China, Indonesia, the Philippines and Russia. Models, such as the PAJERO SPORT/MONTERO SPORT, TRITON/L200, OUTLANDER, ASX/OUTLANDER SPORT/RVR and XPANDER play a major role in achieving its growth. The global sales volume in fiscal year 2019 was 1,127,000 units, and the net sales of Mitsubishi Motors for fiscal year 2019 was 2.27 trillion yen. Mitsubishi Motors is listed on the Tokyo Stock Exchange.

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