Mitsubishi Motors Corp. has finalized the details of a major restructuring plan under which it will slash passenger car production and implement large-scale job cuts, company sources said Thursday.
Under the plan, Mitsubishi Motors will terminate the production of more than 10 of its 24 car models.
As a result, the Oe plant in Nagoya, a key production base, will be shut. Others, including the Okazaki plant in Aichi Prefecture and the Mizushima plant in Okayama Prefecture, will be merged or consolidated, they said.