Photo: Mitsubishi Motors | Edited
Mitsubishi has announced a mid-term plan, dubbed "Challenge 2025," to accelerate electrification in a bid to become a 100% electrified brand by 2035. The Japanese carmaker still relies heavily on ICE vehicles, with hybrids and plug-in vehicles as accelerators in achieving the goal.
As the junior carmaker in a global alliance with France's Renault and Japan's Nissan, Mitsubishi finds itself uniquely positioned to benefit from the other two companies expertise in electric vehicles. Nissan industry's EV pioneer, with Leaf being one of the first successful EVs sold in the U.S. Renault has done the same with ZOE in Europe, while Mitsubishi launched i-MiEV in the U.S. in 2011. But it wasn't successful, and its North American career ended in 2017.
The Japanese carmaker has had more success with its hybrid and plug-in hybrid vehicles, and the Outlander PHEV is an excellent example. This probably explains why it still sees its future as not much different from the present and the past. Other Japanese carmakers, Toyota included, feel the same, as if the country has remained stuck in its glorious past. Even when planning for the future, Japanese companies don't want to stray far from the beaten path.
Mitsubishi has demonstrated that in its mid-term plan, "Challenge 2025," revealed on Friday. While its name suggests that the automaker understands the urgency, there's no plan to go 100% electric in the near or long term. Instead, Mitsubishi's press release speaks about EVs as a blend of plug-in hybrids (PHEV), hybrids (HEV), and pure electrics (BEV). The plan covers the next three years and only discusses "accelerating efforts toward a sustainable carbon-neutral future." This is incredibly light in detail, considering the immediate scope.
As for the longer-term plans leveraged by this acceleration, nothing has changed. Mitsubishi still intends to electrify 50% of global sales by 2030 and then 100% of the fleet by 2035. According to Reuters, the company had already announced a goal to have 50% of its fleet electrified by 2030, and this remains unchanged. To achieve it, Mitsubishi will invest in R&D and production for electrified vehicles, including $1.5 billion in battery sourcing.
In the U.S., Mitsubishi plans to boost its electrified lineup while working closely with Alliance partner Nissan. Mitsubishi shows confidence after two straight years of retail sales growth and being named the number one mass-market brand in JD Power's 2023 Customer Satisfaction Index study.
At a global level, Mitsubishi plans to stick with its "mostly ICE" strategy for the next five years, although it plans to launch 9 electrified models. Based on a presentation slide shared by Mitsubishi, four models would be battery-electric vehicles, including an electric pickup truck and a two-row SUV developed in-house by Mitsubishi. Two other battery-electric vehicles will be Alliance models, jointly developed by the bigger brothers Renault and Nissan.
The Japanese carmaker has had more success with its hybrid and plug-in hybrid vehicles, and the Outlander PHEV is an excellent example. This probably explains why it still sees its future as not much different from the present and the past. Other Japanese carmakers, Toyota included, feel the same, as if the country has remained stuck in its glorious past. Even when planning for the future, Japanese companies don't want to stray far from the beaten path.
Mitsubishi has demonstrated that in its mid-term plan, "Challenge 2025," revealed on Friday. While its name suggests that the automaker understands the urgency, there's no plan to go 100% electric in the near or long term. Instead, Mitsubishi's press release speaks about EVs as a blend of plug-in hybrids (PHEV), hybrids (HEV), and pure electrics (BEV). The plan covers the next three years and only discusses "accelerating efforts toward a sustainable carbon-neutral future." This is incredibly light in detail, considering the immediate scope.
As for the longer-term plans leveraged by this acceleration, nothing has changed. Mitsubishi still intends to electrify 50% of global sales by 2030 and then 100% of the fleet by 2035. According to Reuters, the company had already announced a goal to have 50% of its fleet electrified by 2030, and this remains unchanged. To achieve it, Mitsubishi will invest in R&D and production for electrified vehicles, including $1.5 billion in battery sourcing.
In the U.S., Mitsubishi plans to boost its electrified lineup while working closely with Alliance partner Nissan. Mitsubishi shows confidence after two straight years of retail sales growth and being named the number one mass-market brand in JD Power's 2023 Customer Satisfaction Index study.
At a global level, Mitsubishi plans to stick with its "mostly ICE" strategy for the next five years, although it plans to launch 9 electrified models. Based on a presentation slide shared by Mitsubishi, four models would be battery-electric vehicles, including an electric pickup truck and a two-row SUV developed in-house by Mitsubishi. Two other battery-electric vehicles will be Alliance models, jointly developed by the bigger brothers Renault and Nissan.
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