June 26, 2014 / 6:20 PM / 4 years ago

Mitsubishi Motors to build sedans for Fiat Chrysler - Nikkei

June 27 (Reuters) - Mitsubishi Motors Corp will supply Attrage sedans to Fiat Chrysler Automobiles for sale in Asian markets later this year, Nikkei reported.

Fiat Chrysler is expected to sell the sedans, which Mitsubishi began producing at its Thailand facility last year, under the Chrysler brand name in China and other Asian markets, according to Nikkei.

The partnership, expected to be announced at the start of next week, will help Fiat expand in Asia by sourcing cheaper, fuel-efficient cars from Mitsubishi, the Japanese daily said.

Fiat Chrysler has been in China for some time, but the company has a market share of only 0.6 percent in that country and in the Asia-Pacific region.

Fiat Chrysler Chief Executive Sergio Marchionne unveiled a turnaround plan in May, saying the company will expand in China by producing Jeeps and more Fiats locally.

Japan’s Mitsubishi is targeting a near-50 percent sales boost in Southeast Asia markets as the region accounts for a quarter of its global vehicle sales. (Reporting by Abinaya Vijayaraghavan in Bangalore; Editing by Kirti Pandey)

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