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Mitsubishi reportedly plans to spend billions to get back in the game

Japanese automaker Mitsubishi Motors reportedly plans to inject more than 600 billion yen ($5.35 billion) in capital spending and research and development over the next three years through fiscal 2019 in a bid to turn around its business after recent scandals. The Nikkei newspaper said the new plan calls for spending 5 percent of annual sales on equipment and the same proportion on R&D. Funds will be used by the company for the development of electrified vehicles such as the new e-Evolution concept and for production in China and Indonesia. Mitsubishi Motors will release the specifics of the new medium-term plan on Wednesday, the business daily said. ($1 = 112.1600 yen) Reporting by Sumeet Gaikwad Related Video: Image Credit: Reuters Earnings/Financials Green Plants/Manufacturing Mitsubishi Technology Emerging Technologies Electric research and development nikkei

Mitsubishi Outlander PHEV selling well in Netherlands

Talk about a Dutch treat. Mitsubishi says sales of its Outlander Plug-in Hybrid are brisk in Europe, helped in a big way by plug-in vehicle tax incentives in the Netherlands that are getting more people there to buy the world's first production plug-in hybrid CUV. The Japanese automaker has taken more than 12,000 orders for the model from Europeans and had delivered about 8,200 of them as of the end of last year, all but 200 of which were to the Netherlands. Mitsubishi will start broader sales throughout the continent this year and is also expected to start sales in the US by next year. The company is looking for plug-ins to account for 20 percent of its global sales by the end of the decade. Mitsubishi, which also sells the model in Norway, Sweden and Switzerland, hopes to reach an annual production rate of 50,000 Outlander PHEVs by the end of the year. Last August, the company resumed full-scale battery production after shutting things down for a few months for a safety probe stemming from a short-circuiting issue. The Outlander PHEV can run for 32 miles on electric power alone and gets a European-rated 124 miles per gallon. Check out Mitsubishi's press release on its Euro sales below. MITSUBISHI OUTLANDER PHEV CY13 SALES – EUROPEAN INAUGURATION With a plan for EVs and EV-derived PHEVs to represent 20% of its global sales by 2020, Mitsubishi Motors Corporation has set itself an ambitious, yet realistic target. More so in Europe, Mitsubishi Motors' largest market for these technologies. 12,000+ orders / 8,000+ deliveries In this respect, the successful sales launch of Outlander PHEV in Europe – MMC's first plug-in hybrid electric vehicle and forerunner of a wider PHEV range – tends to vindicate the Corporation's objectives. First launched in selected markets (The Netherlands, Sweden, Norway and Switzerland) from October 2013,Outlander PHEV has collected over 12,000 orders in Europe and these have already translated into 8,197 deliveries to end-customers by the end of December, of which 8,009 units for The Netherlands, the latter boosted by a tax scheme favourable to eco-friendly technologies such as low-emission vehicles. With more cars currently on their way to Europe, Mitsubishi Motor Sales Netherlands will soon be able to deliver the 11,000+ orders currently in its books and growing.

Junkyard Gem: 2004 Mitsubishi Lancer Ralliart

I do manage to find the occasional discarded Mitsubishi Lancer Evolution during my Denver-area junkyard explorations, but such cars— like their Subaru WRX rivals— are always far too crashed and/or stripped to be worth documenting for this series. When it comes to the Mitsubishi Lancer O-Z Rally Edition, though, I get the impression that just about every Lancer sold here during the first part of the 2000s had that all-show-and-no-go package; after shooting several examples, I no longer pay attention to the O-Z Rally. The Ralliart Lancer, on the other hand, was a genuine factory hot-rod, with much more power and a stiffer suspension than the ordinary Lancer. We saw a used-up bright yellow '05 Ralliart last year, and now here's a black '04 in a different Denver yard. The Lancer Ralliart wasn't anywhere near as fast and crazy as its Evolution sibling, but (compared to the base Lancer) it came with more power, bigger brakes, stiffer suspension, better steering, and bucket seats sourced from the JDM Evolution GTA. List price was $18,572 (about $26,110 today), far cheaper than the $29,999 ($42,175 today) Evo VIII. The regular Lancer sedan had an unimpressive 120 horses from its 2.0-liter engine in 2004, while the Lancer Ralliart got this 162-horse MIVEC 2.4. Just in case you were wondering, MIVEC stands for Mitsubishi Innovative Valve-Timing-and-Lift Electronic Control, which doesn't sound as cool as VTEC, but at least seems more convincing than Daewoo's D-TEC. Nearly every O-Z Rally Lancer I see has an automatic transmission, but this Ralliart rolled out of the showroom with a genuine 5-speed manual and Evo shifter. The Japan-market front seats are a bit racier than the ordinary Lancer's, too. Though it is a Colorado car and drivers here think they need AWD to navigate a quarter-inch of snow in the supermarket parking lot, it lacks the all-wheel-drive system that went on the Evo. What more do you want for $18,572? I'm a bit surprised that some local Lancer owner didn't snag the factory strut-tower brace immediately, but I'll bet someone buys this part before the car gets crushed. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. So fast. So furious.