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Mitsubishi to sell only EVs, hybrids by mid-2030s

TOKYO — Mitsubishi Motors Corp plans for hybrid and battery electric vehicles to account for all new car sales by the middle of the next decade, beefing up its electrification strategy for staying competitive in key markets. Mitsubishi, which is also a junior partner in an alliance with France's Renault SA and Nissan Motor Co, said it will roll out 16 new models over the next five years. The Japanese automaker, known for its Outlander sport utility vehicle, stuck to a previous goal of having half of its new car sales electrified by fiscal 2030 and on Friday newly pledged to raise that further to 100% by fiscal 2035. Mitsubishi considers plug-in hybrids (PHEV), hybrid electric vehicles and battery electric vehicles (BEV) as electrified vehicles. Electrified vehicles accounted for about 7% of the company's total new car sales in fiscal 2021. "Among our existing models, we'll expand the geographical areas where our flagship PHEV Outlander is being offered and build out the sales of the Minicab-MiEV light commercial EV that was relaunched last year," Chief Executive Takao Kato said. Among the 16 new models Mitsubishi plans to roll out, one will be a BEV Renault alliance model, while another will be a Nissan alliance model, Mitsubishi said in presentation materials that were part of its fiscal 2023-2025 business plan. Mitsubishi, an early mover in EVs in the early 2010s, currently has no BEVs in its line-up in Europe. Its new BEV for Europe would mark a comeback in a highly competitive market where new entrants such as Tesla have already rapidly won market share. The model could be a variant of the Renault electric MPV Scenic made in France and expected in 2024, or a variant of the Renault electric city cars R5 or R4 expected respectively in 2024 and 2025 and also made in France, a source close to the matter said. Mitsubishi Europe declined to comment on the matter. Of the other 14 models Mitsubishi plans to launch, seven will be purely combustion engine-powered ones, five will be hybrids and the remaining two will be BEV, the company said. (Reporting by Daniel Leussink and Gilles Guillaume; Additional reporting by Elaine Lies; Editing by Chang-Ran Kim, Shounak Dasgupta and Christina Fincher) Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Mitsubishi Electric Hybrid

Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault

Mitsubishi Mirage retiring from the Japanese market in current form

The city-friendly sixth-generation Mitsubishi Mirage has reached the end of its career on the Japanese market. The company's consumer website notes that production has ended, and the news fuels speculation that the hatchback will soon retire from the American market. "Due to the end of production of the Mirage, we may not be able to meet the customer's request for body color, options, etc. Please contact our sales staff for details," the message reads. Interestingly, the end of production isn't announced on Mitsubishi's American website. While the Mirage is overshadowed by Mitsubishi's crossovers and SUVs in the United States, a market that has traditionally been unkind to small hatchbacks, it's relatively popular in several Asian markets and nothing suggests slow sales caused its demise. The current-generation model received a new-look exterior design and additional tech features for 2021, but it entered production in April 2012 as a hatchback and in June 2013 as a sedan so it's fairly old in car years — it sounds like the Mirage has simply reached the end of its natural life cycle. It's too early to tell what's next; our spies haven't spotted a new Mirage testing yet. We know that in some markets Mitsubishi will soon revive the heritage-laced Colt nameplate on a hatchback related to the Renault Clio, but we wouldn't be surprised if the Mirage lives on in one form or another. The Clio stretches about eight inches longer and five inches wider than the Mirage so the Colt won't land as a direct replacement. Similarly, what this means for the Mirage's career in the United States is unclear at this point. "The Mirage remains an integral part of our U.S. line-up at this time," a company spokesperson told Autoblog. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.