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Mitsubishi Motors to Decide on US Plant

Japan's fourth-largest automaker, Mitsubishi Motors Corp , said on Thursday it would make a decision on the location of a new factory in North America within the next few weeks.

Mitsubishi has said it was considering expanding production in North America to boost sales in the region.

President Rolf Eckrodt told a news conference on Thursday that the automaker aimed to sell 400,000 units in the region this year, up 11 percent from last year.

"We are looking at various opportunities. In the next few weeks we will have a decision," he said.

The president added that cooperating with partner DaimlerChrysler AG's Chrysler arm would be one option that could reduce the amount of necessary investment.

Mitsubishi Motors began selling cars in the Canadian market last September and Mexico this month.

Asked how Mitsubishi intended to fund the increase in output capacity, Eckrodt said Mitsubishi had been working to improve its financial standing through "active and offensive asset management" such as the sale of shares in Hyundai Motor Co of South Korea and a spin-off of its truck business this month.

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