HONG KONG — A joint venture between China’s Guangzhou Automobile Group (GAC) and Mitsubishi of Japan has temporarily halted production and started to cut its workforce following years of falling sales.
A letter to employees of GAC Mitsubishi Motors dated Wednesday and cosigned by President Kenichiro Yamamoto and Vice President Li Quming said the joint venture’s sales have been “far from expectations,” leading to the decision to start a “temporary production halt” from last month.