Following last week's rumor, Mitsubishi has confirmed plans to stop making cars at its only plant in United States.

Following last week's rumor, Mitsubishi has confirmed plans to stop making cars at its only plant in United States.

Shortly after announcing to end production at the Normal, Illinois factory, Mitsubishi’s shares rose by 5% as company investors were happy with this decision. President Tetsuro Aikawa declared Mitsubishi's most important production sites will be in Japan, Russia and in Southeast Asian Nations (ASEAN) which among others include Thailand, Indonesia, Philippines and Malaysia.

Industry experts are not surprised as Mitsubishi is already focusing more on Southeast Asia where the company's pickups and SUVs are doing better and better in terms of sales. They are assembling vehicles in the Philippines and Thailand while a factory in Indonesia is on the agenda as well.

As far as the U.S. plant is concerned, Mitsubishi is looking for a buyer that will be willing to keep the current staff consisting of 900 hourly workers. Aikawa estimates finding a buyer should be a relatively easy process taking into account the expanding U.S. car market.

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