Tokyo, Japan – Mitsubishi plans to launch eight new electric vehicles (EVs) by 2015, including electric and plug-in hybrid vehicles, as part of its efforts to reduce its environmental impact. The announcement is part of “Jump 2013,” the company’s mid-term business plan for fiscal years 2011 through 2013.
The new plan reflects the immense change in the automobile industry caused by worldwide economic turmoil. By focusing business resources on increasingly important areas such as fast-growing emerging markets and on environmental initiatives, and by reforming cost structure, Jump 2013 aims for “growth and a leap forward,” the company said.
The EV initiative includes the introduction of hybrid vehicles in 2013 to improve fuel efficiency over conventional combustion-engine vehicles. The company will also keep its business resources focused on segments such as compact cars and SUVs for which high demand is expected, especially in emerging markets. The development process and product range will be streamlined by discontinuing region-specific model production.
Mitsubishi will strengthen its production capacity in emerging markets, including adding a third factory in Thailand, reinforcing a joint venture with a local partner in China, and production of a new SUV in Russia. The U.S. hub will introduce a new model for both domestic and export sales, and in Japan, the company will proceed with a mini-car joint venture with Nissan to increase domestic production volume and streamline its plant operations.