Mitsubishi Motors, now firmly a part of an alliance with Renault and Nissan, has revealed its three-year strategic plan, confirming that it will launch 11 new models by 2020.
In a statement, the Japanese automaker revealed that six of the 11 new vehicles would be “entirely new model changes”, while the remainder would be “important updates” of existing vehicles.
By the end of the plan, the firm says it expects its five best-selling global models – comprising SUV, four-wheel-drive and plug-in hybrid electric vehicles – to account for 70% of its total sales volume. The company furthermore announced that it planned to provide “electrified solutions” across its core model range.
The plan – which the brand says combines the product renewal programme with “targeted market expansion and operating efficiency improvements” – targets an increase of more than 30% in both annual unit sales to 1,3 million vehicles and in revenues to 2,5 trillion yen.
The scheme involves a 60% increase in annual capital expenditure to 137 billion yen in fiscal 2019, with research and development expenses rising by 50% to 133 billion yen over the same period.
As part of its investment drive, Mitsubishi says it will “strengthen its four-wheel-drive SUVs and pick-ups”, while launching the 11 new models, which will include the Xpander MPV and SA-bound Eclipse Cross.
