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A Japanese partnership composed of a diversity of sovereign businesses which allocate the Mitsubishi brand, trademark as well as legacy created the Mitsubishi Group of Companies. It has secured the position of the sixth largest automaker in Japan and the seventeenth largest in the world by renowned international vehicle production.
The former biggest industrial group Mitsubishi Keiretsu partially own this brand in Japan and was created in the year 1970 from the automobile division of Mitsubishi Heavy Industries. The company has its headquarters in Minato, Tokyo.
The Model A, Japan's first series-production automobile was introduced by Mitsubishi Shipbuilding Co., Ltd. This seven seater handmade sedan was based on the Fiat Tipo 3. The production was stopped after building 22 cars because the car proved to be very expensive.
The Mitsubishi 500 was introduced then, a mass market sedan, to accomplish the new market demands of customers. Over 75,000 vehicles annually within the time period of three years only.On the basis of company’s achievement, it was decided that they should create a single operation to focus on the automotive industry. On April 22, 1970, Mitsubishi Motors Corporation was introduced as a wholly owned subordinate of Mitsubishi Heavy Industries.
The main motive of the company's augmentation game plan was to increase exports by forging alliances with well-established foreign companies. Therefore, in 1971 MHI sold U.S. automotive giant Chrysler a 15% share in the new company. Mitsubishi finally achieved an annual production of one million cars in 1980.
Mitsubishi Motors went public in 1988 Hirokazu Nakamura became president of Mitsubishi in 1989. Mitsubishi is in association with Hindustan Motors Limited in India. They broadcasted the launch of 1.5-liter gasoline and 2.0-liter diesel Lancer passenger car models produced at Hindustan Motors Limited (HML) in Calcutta.
Under a contract signed in September 1995, the two companies agreed that Mitsubishi Motors would supply HTML with technical assistance relating to the production of a gasoline engine Lancer model under a contract signed in September 1995. An annual production capacity of 30,000 units is included in HMLs Chennai factory. Full range of Mitsubishi cars, products, as well as the Pajero, Cedia, Lancer, Montero and the Outlander models are sold in India.