Mitsubishi Motors Targets 40% Production Hike in 3 Years

Mitsubishi Motors Corp. tells shareholders it aims to boost its annual production to at least 1.5 million units in fiscal 2019 compared with 1.1 million units for the 12-month period that ended March 31.

CEO Osamu Masuko says the output figure includes vehicles MMC will rebrand and supply to other carmakers, including new owner Nissan Motor Co., The Nikkei reports.

Masuko notes that the company will introduce a new multipurpose vehicle in Indonesia this autumn. He says MMC is likely to also make a Nissan variant.