Mitsubishi

Despite producing its first car in 1937 for Mitsubishi Heavy Industries, better known for building ships and aircraft, Mitsubishi Motors didn’t enter the market until 1970. By 1971 they’d produced 260,000 cars, and sold a 15% stake to Chrysler to establish itself in foreign markets. Chrysler began to sell Mitsubishi-built cars in the U.S market as Dodge Colts and Plymouth Arrows, while the Lancer and Celeste were successful models in the Japanese market. Chrysler sold its Australian manufacturing division to Mitsubishi in 1980, but in 2008 announced it would close down its assembly plant. DaimlerChrysler endured a disastrous tenure as majority shareholder from 2000-2005, losing US$800 million after selling all of its shares.

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