Mitsubishi to Open Sales Unit in Myanmar

Mitsubishi Motors Corp. is forming a joint venture with Japanese trading house Mitsubishi Corp. and local partners to being selling new cars in Myanmar, The Nikkei reports. It says the company also is discussing future local production in the country.

MMC is the latest carmaker to establish a base in Myanmar since 2011, when the government eased import limits and launched economic and political reforms.

Ford signed a deal in February with local distributor Capital Automotive Ltd. to sell vehicles in the country. In the same month, General Motors was part of a delegation of American companies that visited Myanmar to explore trade opportunities.

Mazda plans to begin selling small cars in the country next year. Nissan began importing cars to Myanmar in July and is setting up a local venture to begin assembling several thousand vehicles per year there in 2015.

Only about 4% of Myanmar's 63 million inhabitants currently own vehicles, according to The Nikkei.