Mitsubishi Motors expects more export to Vietnam
Mitsubishi Motors expects to resume shipments to Vietnam as early as June, said in a Nikkei Asian Review report.
Shipment was previously affected due to Vietnam's stricter inspection requirements on imported cars that went into effect at the beginning of the year.
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Mitsubishi Motors, which exports vehicles made in Thailand to Vietnam, expects to receive quality certification from Thai authorities. The Pajero Sport SUV and the Mirage subcompact are among the vehicles likely to be shipped soon.
Mitsubishi Motors aims to expand local production in Vietnam since the company considers Vietnam a very important market in Southeast Asia, alongside the emerging markets of Thailand, Indonesia, and the Philippines, shared a source at Mitsubishi Motors Vietnam with Hanoitimes.
"We are currently studying the potential and ways to contribute to the development of the country's auto industry," added the source. However, regarding the second automobile plant, Mitsubishi Motors declined to comment as no details have been decided to date.
In the meantime and in the near future, Mitsubishi Motors will focus on its current factory in Binh Duong. The group is now assembling Outlander "as we continuously make remarkable steps to reaffirm our long-term commitment to Vietnam."
Mitsubishi Vietnam's first plant in the southern province of Binh Duong has an annual capacity of 5,000 automobiles.
Prior to the halt, the automaker's exports to Vietnam were growing. Shipments from Thailand totaled about 4,400 vehicles for the nine months through December 2017 -- meaning the full-year figure through March 2018 was on track to surpass the prior year's roughly 4,900 units.
Given the growth of the Vietnamese market, Mitsubishi Motors is "considering" setting up its own factory there, according to CEO Osamu Masuko. The automaker and trading house Mitsubishi Corp. jointly own a plant in Vietnam, with each holding stakes of a little more than 40%.
Mitsubishi Motors' Executive Vice President Kozo Shiraji shared plans to build the second automobile plant in Vietnam at a meeting with Deputy Prime Minister Vuong Dinh Hue on January 15.
The reported US$250-million plant with a designed capacity of 30,000-50,000 vehicles a year is expected to meet the strongly growing demand in Vietnam as well as to expand the group's presence in the region.
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