Is GAC Mitsubishi a Joint Venture Car?
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GAC Mitsubishi is a joint venture car, operated by these three joint venture partners as a Sino-foreign joint venture enterprise. Meaning of Joint Venture Cars: Joint venture cars refer to automotive projects jointly established by Chinese and foreign investors. The Chinese side provides land and factory usage rights, as well as capital, while the foreign side offers technology, talent, and brand for domestic car assembly. However, the core technology is still controlled by the foreign party. Reasons for the High Cost of Joint Venture Cars: First, there is the issue of technology. Although domestic car manufacturers have developed significantly in recent years, they started far behind, so their R&D technology naturally lags behind foreign car companies. Additionally, many domestic brands still lack their own engines, so catching up with foreign car manufacturers will naturally take a long time.