Mitsubishi Motors will electrify 100% of the cars it sells worldwide by fiscal 2035, joining other Japanese automakers seeking to catch up with competitors in the United States, China and Europe in the global industry’s shift to greener vehicles.
Japan’s seventh-largest carmaker plans to invest as much as ¥1.8 trillion ($13.1 billion) on electrification by 2030, according to a briefing Friday.
The company also plans to spend ¥210 billion to develop 15 gigawatt hours of battery capacity by 2030, the Tokyo-based company said, as it introduced a slew of new models, including nine EVs and hybrid vehicles that will roll out over the next five years.