Mitsubishi Motors Corp. killed speculation Friday that it would halt its Australian production by announcing it will upgrade and redesign the Magna/Verada model lineup produced at its plant in Adelaide, South Australia.
This lineup is produced by MMC's Australian unit, Mitsubishi Motors Australia Ltd.
Rolf Eckrodt, chief operating officer of MMC, said the decision to invest a further A$70 million into the unit reflects MMC's analysis of business opportunities in Australia and its confidence in its Australian subsidiary.