CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Mitsubishi targets full-scale production in Vietnam
Ngoc Mai 10:27, 2018/11/12
Mitsubishi considers Vietnam a very important market in Southeast Asia.
Japan’s Mitsubishi Motors planned to expand beyond vehicle assembly in Vietnam and move to full-scale local production, including procuring parts from within the country, Nikkei Asian Review reported. 
 
Illustrative photo.
Illustrative photo.
The move came as the Japanese automaker commits to enhance its already considerable presence in Southeast Asia. 

“To be a true winner, we must develop production and exports to certain levels in each country”, Osamu Masuko, CEO of Mitsubishi was quoted by Nikkei Asian Review as saying. 

The automaker operates an assembly plant in Vietnam jointly with the trading house Mitsubishi Corp. But the Vietnamese operations will not be limited to assembling modules in a "knock-down kit" production method, Masuko said. Sourcing more materials locally would let the company handle more upstream processes for components.

Previously, a source at Misubishi Motors Vietnam confirmed with Hanoitimes that it aimed to expand local production in Vietnam since the company considers Vietnam a very important market in Southeast Asia, alongside the  markets of Thailand, Indonesia, and the Philippines.

"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.

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.

In the meantime and in the near future, Mitsubishi Motors will focus on its current factory in Binh Duong. The group is now assembling cars of Outlander brand "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.

Southeast Asia serves as a stronghold for Mitsubishi Motors, accounting for one-fifth of the group's revenue and sales volume in fiscal 2017. Revenue from the region jumped 45% for the year to 506.2 billion yen ($4.45 billion) while unit sales grew 33% to 275,000.

In a meeting with Deputy Prime Minister Vuong Dinh Hue late August, Mitsubishi’s Executive Vice President Hiroshima Sakuma said the company planned to invest in an electric car manufacturing factory in Vietnam, adding that the automaker is evaluating the feasibility of the project.
Comments
Other news
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.