The Japanese automaker has announced a new strategy to keep up with the electric competitive market by strengthening its electrification approach.
By the middle of the following decade, Mitsubishi plans for hybrid and electric vehicles to make up all new automobile sales.
Plug-in hybrids (PHEV), hybrid electric vehicles (HEV), and battery electric vehicles (BEV) are all regarded as electrified vehicles by Mitsubishi.
As a member of an alliance with fellow Japanese automaker Nissan and French automaker Renault, Mitsubishi also announced plans to roll out 16 new vehicle models over the next five years.
These models will include two more fully electric vehicles, five hybrid vehicles, a Nissan model, and a Renault battery-electric vehicle. Seven of the automobiles will use standard internal combustion engines.
Chief Executive Takao Kato said, “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.”
Although it entered the EV industry early, Tesla and other companies have long since overshadowed Mitsubishi, especially in Europe. Only 7% of the company’s sales in its 2021 fiscal year were hybrids or electric vehicles, according to Reuters.
