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Mitsubishi Motors aims for 50% growth in ASEAN auto sales

Midterm plan boosts spending and looks to put fuel-economy scandal to rest

Mitsubishi Motors CEO Osamu Masuko speaks at a news conference outlining the automaker's midterm business plan in Tokyo on Oct. 18. (Photo by Yoichi Iwata)

TOKYO -- Mitsubishi Motors will aim for 50% increase in sales in the ASEAN market over the next three years, as the Japanese automaker seeks to bounce back after a downturn brought on by a fuel economy scandal last year.

The plan was announced Wednesday as part of Mitsubishi's new midterm business strategy. The company said it will earmark 600 billion yen ($5.33 billion) over three years for capital spending, and research and development, to meet rapidly changing business conditions.

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