Mitsubishi To Invest $5.35 Billion To Develop EVs, Boost Output In Asia
Bring on the plug-in hybrid SUVs!
Mitsubishi Motors, now acquired by Nissan (and also now part of the Renault-Nissan-Mitsubishi Alliance), apparently finds itself flush with cash, and intends to increase its R&D to more than 600 billion yen ($5.35 billion) over the next three years.
The Japanese company now intends to spend 5% of its future revenues on R&D, and 5% on new equipment to make up for lost time.
Naturally, the bulk of the new expenditures will be related to plug-in vehicles, and also production of cars in China and Indonesia.
Finally, all those plug-in hybrid SUV concepts we have seen over the years, will be sped into reality; while some of the funds we imagine will also go to porting over some future all-electric offerings from Nissan-Renault.
At this time, media reports don’t contain any specific details, but we can be sure that the Outlander PHEV and i-MiEV will not long will be the only plug-in models offered by the brand.
Also: Mitsu has an electric concept SUV set to debut at the Tokyo Motor Show.