Mitsubishi, Nissan eye joint production to mitigate U.S. tariffs
Mitsubishi currently ships vehicles from Japan for sale in the U.S. market. President Takao Kato said at a press conference that local production is essential to selling cars in the country.
The plan calls for the two Japanese automakers to jointly invest in an existing Nissan plant to produce new vehicles, but Mitsubishi has not disclosed details such as the investment amount or the production start date.
U.S. tariffs have also impacted Mitsubishi's earnings outlook, with operating profit for the fiscal year through next March projected to fall 28 percent from a year earlier to 100 billion yen ($691 million).
Tokyo has been seeking the full removal of "reciprocal" tariffs, in addition to an extra 25 percent levy on cars and a 25 percent duty on steel and aluminum.
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