2006 Mitsubishi Lancer on 2040-cars

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California adapts ZEV mandate with PHEVs for smaller automakers

California is the nation's largest market for zero-emissions vehicles with over 100,000 of them estimated to be on the roads there. The state's goal is to keep that number growing every year. To that end, the California Air Resources Board is now tweaking its rules in a way that might not boost ZEVs but could mean more plug-in hybrids for the Golden State. Jaguar Land Rover, Mazda, Mitsubishi, Subaru, and Volvo asked for an exemption to the state's zero-emissions vehicle mandate last year due to their relatively small development budgets compared to larger automakers. CARB denied their request but did craft a compromise, according to Automotive News. Rather than being required to offer a ZEV in the state, companies with an annual global revenue of less than $40 billion, like those in this group, may instead sell plug-in hybrids to earn ZEV credits. The companies aren't completely off the hook, though. If these plug-in hybrids don't earn enough credits, the corporations must buy them on the market to make up the difference. Automakers with popular electric models like Nissan and Tesla have made a big business through this trading system by selling their surplus to rivals. Tesla alone pocketed $51 million in the first quarter from this part of its business, according to Automotive News. The changes to the regulations also aren't set in stone, yet. CARB is meeting in 2016 and could adjust things further at that time. Related Video: News Source: Automotive News - sub. req. via Hybrid CarsImage Credit: Justin Sullivan / Getty Images Government/Legal Green Jaguar Land Rover Mazda Mitsubishi Subaru Volvo Emissions Electric Hybrid California zev credits zero emissions vehicle

Mitsubishi Evolution Final Edition goes out with a bang

The end of a long era - one we got to experience too little of - is just about at an end, and this car is its gravestone. The 2015 Mitsubishi Lancer Evolution Final Edition is the last breath of ten generations of Lancer Evos, three of which came to the US. Mitsubishi launched a Final Edition Evo X in Japan earlier this year, after teasing a 473-horsepower concept at the Tokyo Auto Salon, now it's our turn. Built on the lower GSR trim, our model gets 303 hp, a bump of 12 hp, and torque goes up by five pound-feet to 305 lb-ft. The bigger modification is arguably the fitment of Bilstein shocks wrapped in Eibach springs all around, plus two-piece Brembo calipers on the front axle, all of which come standard on the upper-level MR trim. Dark chrome Enkei wheels match the dark chrome front grille surround. Like the grille, other changes for the Final Edition appear to be ornamental: black aluminum roof, black interior with red accent stitching, and special badging. Mitsubishi is putting 1,600 on sale here, each one with a numbered plaque just ahead of the shifter for the five-speed manual transmission. A second badge makes an appearance on the decklid. Final Edition Evos come in one of four colors, new Pearl White, Rally Red, Mercury Gray and Octane Blue, and cost $37,995. That price puts it $700 above the GSR Premium trim, and $1,000 below the entry MR trim. There are two press releases below with more information. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video: THE 2015 MITSUBISHI LANCER EVOLUTION FINAL EDITION: LIMITED-PRODUCTION MODEL BIDS FAREWELL TO LEGENDARY SPORTS SEDAN • The Final Edition is based off the current GSR model featuring new enhancements and increases to horsepower and torque • Only 1,600 units will be sold in the U.S. market, each marked by a numbered plaque CYPRESS, Calif. Oct. 5, 2015 – Mitsubishi Motors North America, Inc. (MMNA) today announced the details of the limited-production 2015 Lancer Evolution Final Edition. Arguably the originator of the four-door sports car genre, the Lancer Evolution has seen ten generations – three of which were sold in the U.S. over 12 years. To send it off in style, Mitsubishi Motors will offer 1,600 numbered Final Edition models to the U.S. market with a MSRP of $37,995. The Lancer Evolution Final Edition is based off the current GSR model, with exterior and interior enhancements not previously offered on the GSR.

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.