Mitsubishi to stop production of cars in China

According to a press announcement from the company, the transaction will result in a one-time write-down of 24.3 billion yen ($162.3 million) this year.

Guangzhou Automobile plans to manufacture electric cars under the Aion brand using the infrastructure it has bought.

Mitsubishi also announced its intention to invest €200 million in Ampere, a Renault-owned electric vehicle startup.

source: bloomberg.com