(Tokyo) Japanese automaker Mitsubishi Motors, the third member of the Renault-Nissan alliance, announced on Friday a target of 100% electrified global sales (hybrid and electric vehicles) by its 2035-2036 fiscal year, compared to barely 7% in 2021-22.
The group has also set an intermediate target of 50% electrified sales by 2030-2031, according to a presentation of its new medium-term plan published online.
It plans to launch 16 new models in the next five years, including nine electrified vehicles.
Mitsubishi Motors therefore plans to increase its investment in research and development and its production apparatus by 30% over the period 2023-2028 compared to the previous six years.
The share linked to electrification and digital in this expenditure should increase sharply over the years to reach 70% from 2026-2027.
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 heavily on an intensification of technological cooperation within the Renault-Nissan Alliance to remain up to date on the Japanese, North American and European markets.
It hopes to sell 1.1 million vehicles in 2025-2026, compared to less than 900,000 units per year currently.
And on a strictly financial level, Mitsubishi Motors is now aiming for an operating margin of 7% in 2025-2026, a level almost stable compared to its objective for its current fiscal year 2022-2023 ending at the end of March (6.9%).