Mitsubishi wants to sell 100% electric cars by 2035

The Japanese automobile manufacturer Mitsubishi Motors, the third member of the Renault-Nissan alliance, announced on Friday, March 10, a target for 100% electrified global sales (hybrid and electric vehicles) for its 2035/36 financial year, compared to just 7%. in 2021/22

Half of sales from 2030

The group has also set an interim target of 50% power sales by 2030/31, according to a presentation of its new medium-term plan posted online.

The Japanese manufacturer plans to launch 16 new models in the next five years, including nine electrified vehicles.

Therefore, Mitsubishi Motors plans to increase its investment in research and development and its productive apparatus by 30% during the period 2023-2028 compared to the previous six years.

The share related to electrification and digital in this spending should increase considerably over the years to reach 70% from 2026/27.

Further cooperation with Renault and Nissan

Geographically, Mitsubishi Motors wants to continue to focus on its favorite area, Southeast Asia and Oceania, but also wants to improve its performance in Latin America, Africa and the Middle East.

The group is counting on an intensification of technological cooperation within the Renault-Nissan Alliance to keep up with the Japanese, North American and European markets.

In Europe, the Japanese brand will notably bet on rebadged Renault vehicles: such as its ASX compact SUV launched at the beginning of the year on a Captur basis. And starting in September, its Colt, which will actually be a rebadged Clio.

Mitsubishi expects to sell 1.1 million vehicles in 2025/26, up from fewer than 900,000 units per year currently.

And on a strictly financial level, Mitsubishi Motors is now targeting an operating margin of 7% in 2025/26, a near-stable level compared to its target for its current fiscal year 2022/23 ending at the end of March (6.9% ). .