Mitsubishi planning to introduce eight hybrid and battery-powered models by 2015

Article by Christian Andrei, on January 20, 2011

It appears that Mitsubishi is very serious about developing new hybrid and battery-powered models as the Japanese manufacturer is preparing to introduce eight new models by 2015.

According to our sources, Mitsubishi is planning to make this move due to the fact that the demand for fuel-efficient automobiles grows and the firm wants a rapid expansion.

Currently, Mitsubishi manufactures the i-MiEV EV and began European deliveries on Tuesday. The carmaker also builds the Peugeot iOn and Citreon C-Zero EVs for the French automaker PSA/Peugot-Citreon SA, which are rebadged versions of the i-MiEV.

Back in March 2010, Mitsubishi abandoned talks with PSA over a possible capital tie-up believed to secure a more stable future for the carmakers. Moreover, the decision to introduce eight new models will also boost Mitsubishi’s sales.

The Japanese carmaker wants to increase its annual global sales by 37 percent to 1.37 million vehicles by fiscal 2013 or 2014. Furthermore, Mitsubishi is also planning to increase the proportion of its overseas production to 54 percent of total output by fiscal 2013.

According to its growth plan, Mitsubishi is planning to double its operating profit to 90 billion yen and reach sales of 2.5 trillion yen. This number will triple its net profit to 45 billion ($548 million) yen. [via autonews - sub. required]

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