Mitsubishi Motors is planning to start production in India and to make the country its export hub. To give the plan its shape, the company will establish a manufacturing facility in India.
However, Mitsubishi feels that it is not the right time for the company to set up a production facility in the country. Managing Director (product and strategy) of Mitsubishi, Tetsuro Aikawa, feels that presently the company does not have enough volumes to set up a production facility.
The company is looking forward to a free trade pact between Indian and ASEAN (Association of South-East Asian Nations). According to Mr. Tetsuro Aikawa, (Mitsubishi's managing director) probably that would be the right time for Mitsubishi to set up a manufacturing plant in the country.
India has already finalized the trade pact with the ASEAN which will further enable the car manufacturer to import cheaper auto components and even export its range of car models at lower tariff. With the finalization of this agreement, Mitsubishi will take the advantage and then increase its market share in the country.
At preset, the company is also focusing on brand building and is rolling out one new car model every year in response.