MITSUBISHI MOTORS CORPORATION (MMC) announced its three-year mid-term business plan (from fiscal 2020 to 2022), Small but Beautiful, to concentrate its management resources on its core region and technologies. This plan focuses on cost rationalization and profitability enhancement to realize solid management foundation aiming at sustainable growth after the plan's three-year period.
The Small but Beautiful plan is based on structural reforms to significantly reduce fixed costs by production capacity optimization, the regional strategy as well as the product/technology strategies. Under this initiative, MMC will concentrate its management resources on the ASEAN region where it is competitive. Also, MMC will expand its profitability by further enhancement of its unique, competitive-edge technologies such as PHEV, HEV and 4WD, also by introduction of cutting-edge models leveraging the Alliance partners' technologies. By integrating those technologies, MMC will launch environmentally friendly models that contribute to developing a society where people, cars, and nature can coexist in harmony.
"We will shift our strategy from all-round expansion to selection and concentration," said Takao Kato, representative executive officer and chief executive officer, MMC. "First of all, we will complete our structural reforms and further strengthen our competitive areas—ultimately to build a corporate structure that can surely generate profits during this mid-term period."
The main actions of this plan are as follows:
Reducing fixed costs by 20 percent or more compared to FY2019, and concentrating investment on core regions and technologies to enhance profitabilityFocusing management resources on ASEAN, and increasing the market share there to more than 11 percentDeveloping businesses in Africa, Oceania and South America as the second pillar following ASEANStrengthening eco-friendly model lineup such as of PHEV and EV by launching new models by FY2022, and introducing new models including SUV, pickup truck and MPV in ASEAN from FY2022 onwards
Morikazu Chokki, President and CEO, Mitsubishi Motors (Thailand) Co., Ltd., said, “We are aligned with Mitsubishi Motors Corporation’s 'Small but Beautiful’ mid-term plan. Mitsubishi Motors Thailand remains committed to Thailand and our focus to build on the strengths of our products and services, continues. As a core market of Mitsubishi Motors Corporation, and home to the largest production facility outside Japan, we are also committed to keep increasing continuously our market share in Thailand.”
“One of our biggest plans in the mid-term is to produce at plants outside Japan, for the first time in Thailand, Mitsubishi Outlander PHEV and the launch plan remains on track. Also, under this mid-term plan, the company will introduce the new generation of Mitsubishi Triton and other new environmental-friendly vehicles equipped with advanced technologies. Thailand can be assured we remain fully committed to this market and to its customers,” Chokki added.
Mitsubishi Motors Thailand will continue to enhance its existing product line up including Mitsubishi Pajero Sport, Mitsubishi Triton, Mitsubishi XPANDER, Mitsubishi Mirage and Mitsubishi Attrage to interim solution towards the introduction of new sustainable vehicles like Plug-in Hybrid Electric Vehicles (PHEVs). Early this year, Mitsubishi Motors Thailand laid the foundation stone for its new eco-friendly paint factory at Laem Chabang, Chonburi. The new paint factory is a part of a technological upgrade to Mitsubishi Motors’ long-established production facility in Thailand and a part of a THB 7 billion reconstruction investment that will increase manufacturing competitiveness and eco-friendliness. In addition to the construction of the new paint factory, upgrades of the other facilities in Laem Chabang have also been planned.
About Mitsubishi Motors Thailand (MMTh)
Mitsubishi Motors (Thailand) Co., Ltd., the largest plant in the MMC group and an export hub to more than 120 countries, is one of Thailand’s leading automotive manufacturers committed to produce and sell a range of vehicles that are eco-friendly, high in quality, performance, safety, comfort, technology and customer satisfaction. In 2018 MMTh celebrated a total production of five million units, and officially opened Education Academy in Pathum Thani. MMTh’s current range of vehicles includes MITSUBISHI TRITON, MITSUBISHI PAJERO SPORT, MITSUBISHI ATTRAGE, MITSUBISHI MIRAGE, MITSUBISHI XPANDER, and MITSUBISHI XPANDER CROSS. To ensure the highest quality, MMTh uses its proving ground in Sriracha, Chonburi to assess products from design and prototype stages to pre-production and commercialization. This ensures customers take delivery of vehicles that are second-to-none in all aspects of quality.
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