2003 Mitsubishi Lancer Evolution Viii on 2040-cars

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Mitsubishi pondering $2B share sale?

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.

Mitsubishi Evo tagged with graffiti faster than you can say 'stop!'

Ladies and gentlemen, meet Maggie Stiefvater, professional artist and musician, New York Times best-selling author and Mitsubishi Evo owner. Because, as she writes, "In my latest novel, The Dream Thieves, a character drives a car that looks just like mine. Only there's a knife painted on the side of his," she decided to graffiti a knife on the side of hers.
And that's how you get the time-lapse video below of Stiefvater, a few aerosol cans and a lot of stencils enjoying a sunny day in the park.

Mitsubishi Outlander PHEV production restarts after five-month delay

Back in March, production of both the Mitsubishi Outlander plug-in hybrid and the all-electric i-MiEV ground to a halt over a pair of incidents where overheated lithium-ion batteries caused vehicle fires. Following the rocky start, The Japan Times is reporting that production of the Outlander PHEV has recommenced following the five-month stoppage.
The battery fires were tracked down to a supplier issue before more than 4,300 vehicles were recalled in June, but Mitsubishi received heavy criticism from the Japanese government for the delayed recall. According to the report, though, that hasn't slow down enthusiasm for the plug-in crossover - Mitsubishi has received close to 18,000 for the Outlander PHEV. To keep up with demand, the automaker is planning to double production to 4,000 units a month.