Indonesia Says Mitsubishi Motors Plans to Invest $375 Million in 2024 usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
Indonesia's industry ministry said on Wednesday Japanese carmaker Mitsubishi Motors was planning to invest 5.7 trillion rupiah ($375.25 million) in 2024 to expand its production capacity in the country. The company planned to increase its production capacity to up to 250,000 units per year in 2024 and to start production of the Minicab-MiEV battery electric vehicle in its plant in Indonesia by the end of this year, according to a statement from the ministry. Indonesia has been offering incentives to attract investment into production of EVs.
Indonesia s industry ministry
said on Wednesday Japanese carmaker Mitsubishi Motors
was planning to invest 5.7 trillion rupiah in
2024 to expand its production capacity in the country. .
Mitsubishi has already taken a big hit in China, where its joint venture with Guangzhou Automobile Group (GAC) has cut staff after production of Mitsubishi s new Outlander sports utility vehicle was halted months after its launch in December.