Automaker Mitsubishi Motors reveals plans to return to the Indian markets with a new assembly line in Jamshedpur’s Adityapur industrial area, according to local media. The Japan-headquarters Mitsubishi plans to partner with an automotive component maker in India.
Mitsubishi plans to launch with imported completely-built units (CBUs) from Japan. The company is expected to invest Rs500 crore to form a joint venture with the Indian partner.
Initially, Mitsubishi will take advantage of the new government directive of importing up to 2,000 units without local homologation. The company also plans to launch 2 new cars in the SUV segment, rivalling Kia’s Seltos and Hyundai’s Creta.
Setting up of Mitsubishi’s new plant in Adityapur area is welcome news for the industries in the region. More than 700 ancillary units of Tata Motors operate in the region that also houses around 30 induction-based steel mills.