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

TOKYO (Reuters), -Mitsubishi Motors Corp will develop hybrid and battery electric cars to account for all new vehicle sales by the middle decade. It also plans to increase its electrification strategy in order stay competitive in key markets.

Mitsubishi, which is also a junior member in the alliance with France’s Renault SA, and Nissan Motor Co, announced that 16 new models will be released over the next five year.

The Outlander is a Japanese automobile manufacturer, best known for its sports utility vehicle.

Mitsubishi regards plug-in hybrids, hybrid electric vehicles and battery electrical vehicles (BEV), as electrified vehicles. In fiscal 2021, the company anticipates that electrified vehicles will account for approximately 7% of total new car sales.

“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.

Mitsubishi intends to release 16 new models. One will be a BEV Renault model and the other will be a Nissan model. Mitsubishi stated this in its presentation materials, which were part of its fiscal 2023-2025 plan.

Mitsubishi will launch the 14 remaining models. Seven will be powered solely by a combustion engine, five will use hybrid technology, and the two remaining will be powered by a BEV.

(Reporting by Daniel Leussink, Gilles Guillaume; Additional Reporting by Elaine Lies; Editing done by Chang-Ran Kim & Shounak Dasgupta