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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

VW was 2018's top-selling automaker — but

TOKYO — Volkswagen Group has held on to its position as the world's top-selling automaker for the fifth year in a row, although the German group was edged out again by the Renault-Nissan-Mitsubishi alliance in the light-duty vehicles segment. Renault SA, Nissan Motor Co Ltd and Mitsubishi Motors Corp together sold 10.76 million passenger cars and light commercial vehicles in 2018, according to Reuters' calculations after new data released on Wednesday. The group doesn't sell heavy trucks. Nissan said on Wednesday it sold 5.65 million vehicles last year, down 2.8 percent on the year. Mitsubishi reported an 18 percent rise in sales to 1.22 million units while Renault sold 3.88 million units, up 3.2 percent on the year. Volkswagen's deliveries rose 0.9 percent to a record 10.83 million last year, including its MAN and Scania heavy trucks, the German company said earlier this month. Excluding heavy trucks, it sold 10.6 million units. Toyota Motor Corp retained its third spot, announcing on Wednesday that it had sold 10.59 million vehicles last year including its Toyota and Lexus brands, along with minicars made by subsidiary Daihatsu and light and heavy trucks produced by its truck division Hino Motors Ltd. Excluding Hino trucks, Toyota sold 10.39 million units last year. The automaker has said it expects to sell a total of 10.76 million vehicles in 2019. Many automakers are trying to boost sales volumes to achieve economies of scale and reduce costs amid soaring investments needed to develop next-generation technologies, including self-driving cars and electric vehicles. This has been a focus of the Renault-Nissan-Mitsubishi Motors group, which is looking to share more vehicle parts and consolidate production platforms to trim R&D and manufacturing costs, while raising profitability. The alliance, which brought Mitsubishi Motors into its fold in 2016, is currently in crisis with its former Chairman Carlos Ghosn arrested and indicted on charges of misconduct. Nissan has also been indicted, and Renault appointed new top management last week. Related Video: Earnings/Financials Mitsubishi Nissan Toyota Volkswagen

U.S. will extradite father and son charged in Ghosn escape to Japan

BOSTON — An American father and son accused of helping former Nissan Chairman Carlos Ghosn flee Japan are being handed over on Monday to Japanese authorities for extradition from the United States, a person familiar with the matter said. The U.S. Supreme Court last month cleared the way for the extradition of U.S. Army Special Forces veteran Michael Taylor and his son, Peter Taylor, who are accused of helping Ghosn flee Japan while he was awaiting trial on financial charges. The Taylors, who have been in U.S. custody since their arrest in May, left the jail early on Monday to be flown to Japan, according to the person. Defense attorney Paul Kelly did not respond to a request for comment but told the Associated Press that the men had been turned over for extradition. The U.S. Justice Department declined to comment. They were charged last year with helping Ghosn flee Japan on Dec. 29, 2019, hidden in a box and on a private jet before reaching his childhood home, Lebanon, which has no extradition treaty with Japan. Ghosn was awaiting trial on charges that he had engaged in financial wrongdoing, including by understating his compensation in Nissan's financial statements. Ghosn denies wrongdoing. Prosecutors said the elder Taylor, a 60-year-old private security specialist, and Peter Taylor, 27, received $1.3 million for their services. The Taylors waged a months-long campaign to press their case against extradition in the courts, media, State Department and White House with the aid of a collection of high-powered lawyers and lobbyists. The Taylors' lawyers argued unsuccessfully in U.S. courts that their clients could not be prosecuted in Japan for helping someone "bail jump" and that, if extradited, they faced the prospect of relentless interrogations and torture. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. CES 2020 and Carlos Ghosn | Autoblog Podcast #609