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Mitsubishi reportedly plans to spend billions to get back in the game

Japanese automaker Mitsubishi Motors reportedly plans to inject more than 600 billion yen ($5.35 billion) in capital spending and research and development over the next three years through fiscal 2019 in a bid to turn around its business after recent scandals. The Nikkei newspaper said the new plan calls for spending 5 percent of annual sales on equipment and the same proportion on R&D. Funds will be used by the company for the development of electrified vehicles such as the new e-Evolution concept and for production in China and Indonesia. Mitsubishi Motors will release the specifics of the new medium-term plan on Wednesday, the business daily said. ($1 = 112.1600 yen) Reporting by Sumeet Gaikwad Related Video: Image Credit: Reuters Earnings/Financials Green Plants/Manufacturing Mitsubishi Technology Emerging Technologies Electric research and development nikkei

Mitsubishi wants a compact pickup for the U.S. market, but won't rush it

A Mitsubishi dealer told Wards Auto last year that "the most requested model at the brand's U.S. dealer meetings is 'a pickup truck, a pickup truck, a pickup truck.'" This month, Mitsubishi North America's COO told Wards that the carmaker has its eye on getting back to the compact pickup segment in the U.S., but that it will take time. "[We'd] have to have one that's the right fit for Mitsubishi," he said, "for our demographic, and something that's really competitive in the market." That wasn't the case with the last compact pickup the brand sold here, the Raider. A product of the Daimler-Chrysler alliance with Mitsubishi at the time, the Raider was a rebadged Dodge Dakota. The pickup sputtered through four years of meager sales, being pulled from the market in 2009. As part of the Renault-Nissan alliance, Mitsubishi's been put in charge of the group's next midsize body-on-frame platform, Automotive News reports. The chassis will underpin the next-gen Mitsubishi Triton (2019 model pictured), Nissan Navara and Renault Alaskan, and if Daimler continues the tie-up with Renault, the next Mercedes X-Class. It sounds like Mitsubishi has already made room for electrification, the COO telling Wards, "you start mixing in some of that electrification technology and these hybrid drivetrains, the aspect of performance is really going to change in the future." The carmaker does very well with its compact Triton pickup, sold in 150 overseas markets under that name as well as L200 and Strada. Wards says LMC Automotive predicts a Triton will come to the U.S. as a 2025 model, but we can't know how similar our model would be to the international model. Our Nissan Frontier, for instance, is not the same as the Frontier sold overseas, the global truck also known as the Navara and NP300. The five-year wait shows Mitsubishi won't be reckless with any new launch now that it has a vision and momentum to protect. The Japanese carmaker has posted sales gains in the U.S. for six straight years. The last two years surpassed 100,000 units, 2018 delivering a 14 percent jump over 2017 in spite of Mitsubishi having just four models on sale here.

2019-22 Mitsubishi Outlander Sport recalled for transmission fault

Mitsubishi says 76,508 Outlander Sports from the 2019 to 2022 model years need to return to dealers for updated software, according to a recall notice from the National Highway Traffic Safety Administration. Some code released for the electronic control unit managing the continuously variable transmission can suffer a fault if the unit loses power temporarily. In such instances, when power is restored, the software can command the CVT to reset to the lowest 'gear' possible. If this occurs at high speeds, the engine over-revs, and a piston can come into contact with an exhaust valve which then causes the engine to stall. It also kiboshes the engine. This is a bad possibility anywhere, but especially on the highway. It took Mitsubishi engineers about two years to figure out the problem, during which the company has dealt with 50 reports and warranty claims, but says it knows of no injuries or accidents due to the problem. The only Outlander Sports involved in the recall are those with a CVT that need a mechanical key to be started, built from July 31, 2018 to and May 11, 2022. Models with the manual gearbox or push-button start aren't affected. For now, the 2011 to 2018 Outlander Sport isn't included, the software change said to coincide with the 2019 model year. Dealers will install new software that decides on the proper CVT target ratio after a transmission control unit reset.    The automaker said it will begin notifying owners by mail on August 24. Those with questions can call Mitsubishi Motors North America customer service at 888-648-7820 and cite recall number SR-22-004. They can also get in touch with the National Highway Traffic Safety Administration at 888-327-4236 and refer to campaign number 22V563.  Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.