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Mitsubishi CEO: new low-cost cars to roll onto Chinese roads

Jorvan From www.gasgoo.com| May 17 , 2007

"The Company will develop new low-cost vehicles to meet the demand of newly rising market such as China and other markets in East Asia." Mitsubishi Motors Corporation CEO said.

"The company will use the existing production lines and production platforms, based on "Mitsubishi COLT" series in the market to develop low price cars in these countries. New cars will be compact, environment-friendly cars, and will be priced at about 1 million yen (about 64,000 yuan)." He added.

Currently, Toyota, Nissan and other Japanese auto giants are making efforts on the development of low-priced cars to raise their sales in overseas market. Mitsubishi is no exception, and thus lays a solid foundation for its medium-term strategy.

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