Mitsubishi to invest £337m in manufacture of new car
Mitsubishi Motors Corporation is investing $532 million (£337 million) in a manufacturing plant in Tokyo to start building a new car in 2012.
It will be a global compact model, of which the carmaker will produce 150,000 units a year, and it is expected to be exported to markets in Europe and Japan.
The firm is bringing the new vehicle to the market in order to meet rising demand for compact models around the world.
Around 3,000 jobs will be created through the building and operating of the manufacturing plant.
Reuters reported that the new car will have an engine of 1.0 to 1.2 litres, and will become one of Mitsubishi's core models, being positioned as an entry-level machine which focuses on fuel efficiency.
It is expected that the model will be launched at the Geneva motor show, which takes place between March 3rd and 13th next year, and will feature a whole host of machines which are turning towards topical green technology.