World Economy

Mitsubishi Invests in Indonesia

Mitsubishi Invests in IndonesiaMitsubishi Invests in Indonesia

Japan’s Mitsubishi Motors Corp will invest $600 million to set up its first multi-purpose vehicle (MPV) factory in Indonesia, aiming to capitalize on strong demand for the segment in the country as well as to export to other markets in Asia, Reuters reported. The MPVs accounted for more than half the 1.23m cars sold in Indonesia in 2013. The assembly plant is expected to start production in 2017 and will help Mitsubishi Motors to raise its annual production capacity in Indonesia to 240,000 vehicles from the current 160,000, Mitsubishi Motors Chief Executive Osamu Masuko said in Jakarta.