Mitsubishi Motors plans Japan, SE Asia, Russia output focus

The president of Mitsubishi Motors Corp said Japan, SouthEast Asia and Russia will become the automaker's principal production hubs after it calls time on making cars in the United States later this year because of dwindling output there.

"Japan, ASEAN (countries), and Russia will be the main points of production for our company," said Tetsuro Aikawa, President and Chief Operating Officer of Japan's sixth-biggest automaker.

Aikawa was speaking at a news conference on Monday after his company confirmed plans to end output at its sole North American plant in Normal, Illinois, and serve the U.S. market from factories in Japan and Thailand. Shares rose more than 5 percent as investors welcomed the switch.

The shift comes as Mitsubishi Motors increasingly focuses output in Southeast Asia, where its pickup trucks and sports utility vehicles (SUVs) are popular. The automaker currently makes cars in Thailand and the Philippines, and said in February it will build a new factory in Indonesia for vehicles such as its Pajero Sport SUV.