Mitsubishi Sold its NedCar Plant in Netherlands for 1 Euro image

The Japanese automaker Mitsubishi has sold its plant in the Netherlands for 1 euro.

Mitsubishi’s plant has been bought by the VDL Dutch Company, which plans to manufacture BMW cars under a license. The Japanese automaker sold the facility under one condition: all 1,500 workers to retain their jobs. Mitsubishi used the plant to build mini-cars and off roaders there, which did not sell well due to the crisis-hit Western Europe.

The Dutch industrial company VDL Group, who will take over the plant in January 2013, will supply Mini under a contract manufacturing deal. Harald Krueger, BMW’s board member in charge of Mini, Rolls-Royce, motorcycles and aftersales said that in the following months the company will decide what models will be sourced from the former NedCar plant, which will be named VDL NedCar plant from 2013.

“It is the same type of agreement we have with Magna Steyr in Graz, Austria, which will continue producing the Countryman and Paceman models for us,” Krueger told reporters. “We aim [at] selling 2 million units of BMW, Mini and Rolls-Royce models by 2016 and Mini currently accounts for about one of every six cars sold by the BMW Group.”