According to a media report, Mitsubishi is looking for a new partner to revive its Indian company and is reported to be designing SUVs rivaling Crete and Fortuner.
The report states that Mitsubishi is in talks with a major manufacturer of components from Jamshedpur. The negotiations are said to have reached an advanced stage and the agreement may be signed by the end of June 2020. The new partner is expected to spend Rs. 500 crore, which could be used to build a new assembly line.
Mitsubishi is looking at products that could compete with Hyundai Creta and Toyota Fortuner. Unlike its CBU offerings, new cars will have more locally sourced parts to allow the company to price them competitively. Japanese car maker is also said to be testing the Cross of Eclipse and Eclipse for India.
It has also been reported that Mitsubishi will expand its distributor network before production starts sometime in 2022. The company currently has just 11 dealerships in India.
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Source: Financial Express