Mitsubishi Motors Corp (7211.T) plans for hybrid and battery electric vehicles to account for all new car sales by the middle of the next decade, beefing up its electrification strategy for staying competitive in key markets.
Mitsubishi, which is also a junior partner in an alliance with France’s Renault SA (RENA.PA) and Nissan Motor Co (7201.T), said it will roll out 16 new models over the next five years.
The Japanese automaker, known for its Outlander sport utility vehicle, stuck to a previous goal of having half of its new car sales electrified by fiscal 2030 and on Friday newly pledged to raise that further to 100% by fiscal 2035.
Mitsubishi considers plug-in hybrids (PHEV), hybrid electric vehicles and battery electric vehicles (BEV) as electrified vehicles. The company expects electrified vehicles to account for about 7% of its total new car sales in fiscal 2021.
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