Japanese Car Giant Mitsubishi Exiting China: Report

Mitsubishi, the Japanese automaking giant, is pulling its operations out of China, according to a report from Japanese outlet Nikkei.

The Mitsubishi Motors logo is displayed outside the company's headquarters in Tokyo on April 20, 2016. Tomohiro Ohsumi/Getty Images

Japanese car giant Mitsubishi Motors is looking to pull out of China entirely amid tough competition from domestic rivals and after a months-long production stoppage of its sport-utility vehicle (SUV) lineup after years of falling sales, according to reports.

Mitsubishi is in talks with local joint-venture partner Guangzhou Automobile Group (GAC) about exiting auto-making operations in China, according to Japanese news outlet Nikkei.