GAC Mitsubishi officially withdraws from the Chinese market, GAC Aion takes over

GAC Mitsubishi Motors Co., Ltd. has officially changed its name to Hunan Zhixiang Automobile Management Co., Ltd., and Mitsubishi Motors has officially withdrawn from the Chinese market. The board of directors of GAC Group agreed to transfer its 100% equity to its holding subsidiary GAC Aion. GAC Mitsubishi will become a wholly-owned subsidiary of GAC Group, and GAC Aion will use the GAC Mitsubishi plant to increase production and expand capacity.