Mitsubishi Motors Philippines Corporation (MMPC) and Toyota Motors Philippines Corporation (TMPC) have announced that they will be investing approximately P8 billion (US$172 million) under the Philippine government’s Comprehensive Automotive Resurgence Strategy (CARS) programme by 2018.

Mitsubishi Motors Philippines Corporation (MMPC) plans to ask the Trade Department to provide incentives to rationalise the cost of bringing in hybrid vehicles into the country, and has indicated plans to inject additional investments in the local automotive industry.

Mitsubishi Motors has appointed a Nissan Motor adviser as its head of research and development (R&D), part of a management overhaul. This comes in the wake of a mileage scandal that has hit the automaker.

Nissan Motor has agreed to purchase a 34 percent stake in Mitsubishi Motors, taking control of 237.4 billion yen (US$2.2 billion) in shares to become the largest shareholder — just over a third — in Mitsubishi.

Tokyo, Japan: Mitsubishi Electric India will build a factory to produce electrical equipment for rolling stock, aiming to expand its transportation-systems business in the Indian market. Construction is planned to finish in September 2015, followed by the start of production in December that year. 

The factory is expected to cost around US$8 million and will occupy some 4,605 sq m. Located in the suburbs of Bengaluru, it will produce traction inverters, motors and other electrical equipment for rolling stock, and it will also have equipment-maintenance facilities. 

Takahiro Kikuchi, executive officer and group president of Public Utility Systems of Mitsubishi Electric, said: "The Indian market is growing rapidly, fuelled by the country's increasing population and rising demands for eco-friendly mass transportation systems. Several major infrastructure projects are under consideration in India, including some with yen loan, and we plan to support them in an effort to expand our transportation-systems business."

The factory launch is a part of a growth strategy under which Mitsubishi Electric aims to achieve transportation-systems annual revenue of US$2.7 billion, by 2020.

Nagoya, Japan: Mitsubishi Heavy Industries (MHI) and Mitsubishi Aircraft Corporation held a rollout ceremony for the MRJ (Mitsubishi Regional Jet), a next-generation regional jet, at the Komaki Minami Plant of MHI's Nagoya Aerospace Systems Works in Aichi Prefecture. After unveiling Japan's first jet aircraft, the companies say they are now ready to proceed toward the plane's first flight, scheduled for the April-June quarter of 2015. 

Going forward MHI and Mitsubishi Aircraft will continue to dedicate their full efforts to ensuring the success of the MRJ project while at the same time playing a core role in the development of the aviation industry. The two companies say the first delivery is planned to take place in 2017.