• Kyodo News


Mitsubishi Motors Corp. said Thursday it will launch eight lines of next-generation electric cars and plug-in hybrids by fiscal 2015 and double its group operating profits in the next three years by focusing resources on fast-growing emerging markets.

Adding to the eight green car models, it will also introduce hybrid vehicles in fiscal 2013 as the automaker also concentrates resources into environmental initiatives, it said in its three-year business strategy starting in fiscal 2011.

MMC said it plans to enhance its lineup of small, fuel-efficient and low-priced vehicles as well as sport utility vehicles to boost sales in emerging markets, where demand is expected to grow significantly.

The automaker said it aims to double its consolidated operating profit to ¥90 billion in fiscal 2013 from a forecast profit of ¥45 billion in the current fiscal year through March 31.

It also aims to chalk up group sales of ¥2.5 trillion in fiscal 2013 by selling 1.37 million vehicles, up from a projected ¥1.9 trillion in fiscal 2010.

“We will respond quickly to emerging markets where new demand is spreading rapidly, as well as to environmental needs that draw high levels of attention, and aim to achieve sustainable growth,” MMC President Osamu Masuko told a news conference.

In emerging markets, the automaker will promote boosting local output capacity to cope with a strong yen, it said. In Thailand, it will set up a new factory and make the country its second-largest export hub after Japan.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.