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Mitsubishi announces growth strategy for 2015

Mitsubishi Motor Corporation plans to produce eight electric-powered vehicles globally by 2015.

It revealed the ambition as part of 'Jump 2013' - its mid-term business plan for the period to the end of March 2014.

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, said the global carmaker.

Stratgic focus will remain on small cars and SUVs, for which high demand is expected, particularly in emerging markets such as China, Russia and India.

The electric-powered vehicles will include the introduction of hybrid vehicles.

However region-specific models, such as the Colt, will end production in favour of more global products, including a compact, fuel-efficient car currently codenamed Global Small.

Total financial year 2013 target sales volume is 1,370,000 units, more than a third larger than 2010's volume.

A new factory is planned for Thailand, which will be Mitsubishi's second largest export hub after Japan.

Joint ventures will be a feature of the carmaker's future.

In Japan, Mitsubishi will proceed with a minicar joint venture with Nissan to increase domestic production volume and streamline plant operations.

It also has its ongoing alliance with PSA Peugeot Citroen, whose iOn and C-Zero models are based on Mitsubishi's i-Miev.

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