Mitsubishi To Scrap Passenger Jet Project

Mitsubishi Heavy Industries Ltd. plans to terminate the development of a domestically manufactured jet, sources familiar with the matter said, Kyodo News reported.

Photo Insert: Mitsubishi had already invested about 1 trillion ($7.6 billion) into the SpaceJet project but a lack of prospects for commercialization has forced the company to withdraw.

The company had already invested about 1 trillion ($7.6 billion) into the SpaceJet project, officially launched in 2008, but suspended it in October 2020 after it was hit by repeated delays due to a lack of expertise.

Public and private sectors in Japan had been working together to develop the country's first domestically manufactured passenger jet. However, lack of prospects for commercialization has forced Mitsubishi to withdraw, Mainichi Japan also reported.

The company has been gradually ramping down development since freezing the project, including closing down its flight testing base in the United States. Mitsubishi was originally a manufacturer of warplanes that Japan used during World War II.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic