2008 Mitsubishi Lancer Evolution Mr Sedan 4-door 2.0l on 2040-cars

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Mitsubishi developing new standalone hybrid Evo successor

Mention the name Mitsubishi to different people and you'll likely get two startling different images. Environmentalists will focus on the company's strides in developing EVs, while performance enthusiasts will point you toward the Lancer Evolution. The prevailing wisdom was that Mitsubishi would cancel the latter to concentrate on the former, but the latest intel suggests that the two will be reconciled with a new Evo around the corner.
Although Mitsubishi is reportedly working to streamline its lineup from 23 models on 12 different platforms to 13 models on 7 by 2016, the next Evo will stand as an exception. Like Subaru did with the formerly Impreza-based WRX (or for that matter Nissan with the formerly Skyline-based GT-R), the new Evo won't have anything to do with the next Lancer, which itself will be based on a Renault-Nissan platform.
On that unique platform, Mitsubishi is likely to install a small direct-injection turbo engine (potentially a diesel) that could be based on the 1.1-liter, three-cylinder turbo engine in the XR-PHEV concept we saw in Tokyo, supplemented by small electric motors with lightweight batteries and driving all four wheels through an enhanced version of the company's Super All-Wheel Control system. As to whether the Evo name will carry over, that remains to be seen, but if these reports prove accurate, its spirit could very much live on.

Mitsubishi could race in rallies again, but not with a new Lancer Evo

Mitsubishi could make a long-awaited comeback to the world of rally racing in the coming years. It's open to injecting more performance into its range, but its need for speed won't spawn a new version of the Lancer Evolution. Speaking to investors during a shareholder meeting held in Japan, company boss Takao Kato explained the first step towards making quicker, more exciting cars was reviving the Ralliart brand in May 2021. "We plan to expand [Ralliart] to a wide range of models as genuine accessories first, but we will also consider involvement in rallies," the CEO stated, according to Japanese publication Response. Crucially, a racing program has not been approved yet. How a potential return to rallying would be orchestrated remains to be seen. In the past, Mitsubishi's rally superstar was the Lancer Evolution (pictured), which retired without a successor in 2015. The firm's current range consists of crossovers, SUVs, and pickup trucks with the exception of the Mirage, which is likely too small to credibly turn into a rally car. While it's tempting to speculate a return to racing will bring the Evo back to the range, even without a Lancer to build it on, Kato doused cold water on the years-old rumors mapping out the nameplate's future. He stressed a next-generation Evo is not in the pipeline, even though Mitsubishi's shareholders are requesting one. "Electrification is expensive, and we're still not strong enough. We ended the previous fiscal year with a big deficit," Kato said. "First, we need to revive the company. Then, we'll look into putting out the cars fans are waiting for." His plans to revive the company include launching a number of mainstream models in rapid-fire succession. The Mirage, the Eclipse Cross, and the Outlander Sport recently benefited from an array of updates, most of which were reasonably well received, and the new Outlander was unveiled earlier in 2021 with dramatic improvements. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Nissan to pull out of venture fund with Renault in cost-cutting drive, insiders say

TOKYO — Nissan is likely to pull out from a venture capital fund it runs with alliance partners Renault and Mitsubishi Motors, as part of the Japanese automaker's drive to cut costs and conserve cash, two sources said. Nissan will formally take a decision on whether to leave the fund, Alliance Ventures, by the end of this month, the two Nissan insiders told Reuters, declining to be identified because the information has not been made public. The likely move comes after Nissan's junior partner, Mitsubishi Motors Corp, told an alliance meeting last week that it would no longer continue to inject money into the fund, one of the sources said. The decision to leave the Amsterdam-based fund was all but a done deal, the other source said, adding: "Of course we're out. The house is on fire." A Nissan spokeswoman said it was speculation and declined to comment. A Mitsubishi spokesman said no decision had been made. The move comes as Nissan — which has seen its earnings slump — is now facing a downturn in China, its biggest market, due to the impact of the coronavirus outbreak. China sales plunged 80% last month. It also highlights the extent of the automaker's cost-cutting under new CEO Makoto Uchida, who is under pressure for a quick turnaround. Alliance Ventures is aimed at finding "learning opportunities" for the alliance through investing in startups, and is supposed get up to $200 million (153.3 million pounds) a year from the three alliance partners, although it never achieves that full amount, the first source said. It was set up under former alliance head Carlos Ghosn, whose dramatic arrest in Japan culminated in an escape to his childhood home of Lebanon in December. Ghosn faces multiple charges in Japan, including of under-reporting earnings and misappropriation of company funds, all of which he denies. According to its website, the fund was set up with a $200 million initial investment and aims for up to $1 billion by 2023. Portfolio companies include WeRide, a Chinese robo-taxi startup and Tekion Corp, a cloud-based retail platform for cars. "It wasn't established by Ghosn as a way to make money. It was for those learning opportunities we get from investing in smart startups," the first source said. "But given the tough financial situation we are facing, we are looking at investment return." Reporting by Norihiko Shirouzu; Editing by David Dolan/Louise Heavens/Susan Fenton.