Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
SpaceX Updates Starlink Privacy Policy to Allow AI Training as xAI Merger Talks and IPO Loom 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Mitsubishi Motors Corp. is ending its vehicle production in China, and this decision comes amid the rigid competition in the country's auto market. The Japanese carmaker headquartered in Minato, Tokyo, also confirmed slow sales, which was the main reason for the move.
According to Reuters, Mitsubishi Motors cannot keep up with the fierce price competition in China, which Stellantis and Hyundai Motor are currently leading. It will now be taking steps to reduce costs through restructuring.
Joint Venture in China
As Mitsubishi Motors carries out its cost reduction plan, it will restructure its joint venture with Guangzhou Automobile Group. The firm said on Tuesday that it also booked a special loss of 24.3 billion yen or about $162.3 million in the fiscal year ending in March 2024.
In any case, Mitsubishi Motors allied with GAC to establish a joint venture in 2012. The company said that after transferring its JV stake to Guangzhou Automobile, its Chinese partner will own the joint entity.
Moreover, once the company fully exits production, the JV plant will shift to manufacturing GAC's Aion cars starting in June 2024. Since it can use another plant, GAC will eventually expand its EV production capacity to 60,000 units per year.
Investment in Renault's Ampere EV Division
Meanwhile, Mitsubishi Motors confirmed investing in Renault's Ampere electric vehicle unit for EV development technology. The French automaker's chairman, Jean-Dominique Senard, said they welcome the investment and look forward to a great partnership.
"For Mitsubishi Motors, the investment comes as an ambitious step forward in its mid-term management plan announced in March 2023, where Mitsubishi Motors committed to the development of electric vehicles and to strengthen cooperation with its Alliance members toward the acceleration phase of electrification," the company said in a press release. "The maximum investment in Ampere will be 200 million euros."
Photo by: Heshan Perera/Unsplash
