Electrified – Mitsubishi Motors Releases Latest Mid-Term Plan

The xAUTO  demonstration car uses Mitsubishi Electric technology for autonomous driving. Click for more information.

Mitsubishi Motors Corporation (7211.T) in Japan today released its next Mid-Term Business Plan (MTP). This three-year plan, Challenge 2025, states MMC’s corporate direction. As with all recent global automaker’s mission statements, MMC claimed to be reinforcing the company’s environmental commitment toward a carbon-neutral future, laying the foundation for how MMC will work within the Renault-Nissan-Mitsubishi Alliance and other global alliances. It also talks about future plans for various global markets.  (autoinformed.com on: Renault and Nissan, Mitsubishi Alliance to Restructure)

Challenge 2025 says MMC will accelerate efforts toward a sustainable carbon neutral future, made possible through a reduction of vehicle CO2 emissions by 40% and a reduction in operational CO2 by 50% by 2030. MMC aspires to make 50% of global sales EVs by 2030. MMC projects 100% of the fleet electrified by 2035 (EV means a blend of plug-in hybrids (PHEV), hybrids (HEV) and pure electrics (BEV)). “This goal is made possible through more aggressive investment in R&D and CAPEX, particularly in areas of electrification, IT, and new business,” MMC said. MMC also projects a ¥200 billion (~$1.5 billion) investment in battery sourcing for its 2030 EV sales.

Under Challenge 2025, MMC will:

1. Build upon the momentum already started globally with sales successes, segment-leading product launches, industry awards, and regional successes; strengthen brand reputation; and maintain stable earnings for the company through specific regional strategies
2. Accelerate EV development toward the company’s goal of carbon neutrality, and “enhance” collaboration with Renault-Nissan-Mitsubishi Alliance partners
3. Continue technology innovation and digitalization already begun, as well as expand into new areas of business growth

In North America, the next three years of business will see an enhanced and electrified product lineup in the market, closer cooperation with Alliance member Nissan, and expanding what Mitsubishi claims is its local leadership position in digital tools for sales and marketing areas across other global markets. Mitsubishi has had two years of year-on-year retail sales growth. It was named the number one mass- market brand in JD Power’s 2023 Customer Satisfaction Index study (autoinformed.com on: EV Servicing – First Power CSI Satisfaction Drop in 28 Years)