Read all about MITSUBISHI Electric Vehicles from Global Aspect

Japan's Mitsubishi Motors declared recently that it is going to launch a totally new concept in automobile industry; an Eco-friendly/Environment-friendly cars by March 2016. By targeting and taking active role in emerging markets, the company will have double operating profit in the coming next three years.

In the new midterm business plan the company announced that Mitsubishi will launch total of eight electric vehicles and plug-in hybrids starting with a mini-commercial vehicle - The MINIC CAB-MIEV –

In 2009, Japan’s fourth largest automobile company introduced an electrical vehicle for commercial production – i-MiEV, the world’s first green vehicle. Since then, rival companies like Nissan, Toyota, and Ford have joined the race of manufacturing greener cars and the competition has gone up by leaps and bounds.

The latest models that will touch the roads in the fiscal year commencing from April 2012 will include Mitsubishi's first plug-in gasoline-electric hybrid vehicles.

The company is working towards enhancing the present market production and achieved a target goal by doubling the operating profit to $1.10 billion and triples the net profit to 45 billion yen by March 2014

Mitsubishi hopes that the new business policy will be cost-effective and economical and will increase its sales as it wishes to explore, expand, and grow its China business with a new local partner.
Mitsubishi President Osamu Masuko told reporters that seeing the rate of growth in China and the rapid up gradation in the standard of living among people there is no doubt that the demand of these kind of cars for domestic purpose will be tremendous.

This great entrepreneur said that it is planning to build a third factory in Thailand in the financial year 2011. This will make Thailand the company’s second largest export hub after Japan. The company aims at producing economical, affordable, low-price, energy efficient compact cars for the emerging middle class.

Mitsubishi also has plans to increase its growth capacity in China and Brazil and is also looking forward to start a full scale manufacturing unit of sports automobiles in Russia.

Masuko wants the company to maintain the present production in Japan. However, he acknowledged the difficulty in keeping the present export oriented sales and to expand the capacity and increase in production level in Japan

He said that they have to produce cars at places where there are more consumers/clients and flexible foreign exchange policies, and less exchange risks.

As the yen’s has appreciated against dollar and euro, the profit has been dwindling for many Japanese automakers and hence the export from Japan has become less profitable.

This has resulted in many companies considering moving their production lines away from Japan to survive in the market against rival manufacturers whose home currencies are weaker than Yen.
The present ratio of overseas production to total production of Mitsubishi is expected to increase by 54 percent in the financial year 2013 from 44 percent in 2010.

The company has reveled that the total global output will go up to 1.58 million units from 1.1 million in the same period

It has sales target of $30.1 million for the financial year 2013, a very impressive rise than sales target of $22.9 million for the financial year 2010 which ends in March 2011.

On Thursday, Mitsubishi shares closed on higher side, rising 1.69 percent at $1.45 per share. Thus, outperforming in the benchmark Nikkei index rose by 1.13 % only.

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