Mitsubishi Motors unveils 3-yr. plan to boost environmental commitment
Mitsubishi Motors Corporation unveiled its next Mid-Term Business Plan (MTP), a three-year strategy dubbed “Challenge 2025,” which sets out its corporate direction in reinforcing the its environmental commitment toward a carbon-neutral future, laying the foundation for how it will work within the Renault-Nissan-Mitsubishi Alliance and other global alliances, and discussing plans for several global markets.
Under Challenge 2025, Mitsubishi Motors Corporation stated it will accelerate efforts toward a sustainable carbon neutral future, made possible through a reduction of vehicle CO2 emissions by 40% and a reduction in operational CO2 by 50% by 2030.
Additionally, the automaker will move to make 50% of global sales an EV by 2030, and then 100% of the fleet electrified by 2035 (“EV” specifically refers to a blend of plug-in hybrids (PHEV), hybrids (HEV) and pure electrics (BEV)).
This goal is made possible through more aggressive investment in Research & Development and capital investments, particularly in areas of electrification, IT, and new business. The company also plans a $1.5 billion investment in battery sourcing to achieve its EV sales target in 2030, it stated.
During the three years of the Challenge 2025, Mitsubishi Motors will:
- Build upon the momentum already started globally with sales successes, segment-leading product launches, industry awards, and regional successes; strengthen brand reputation; and maintain stable earnings for the company through specific regional strategies;
- Accelerate EV development toward the company’s goal of carbon neutrality, and enhance collaboration with Renault-Nissan-Mitsubishi Alliance partners; and,
- Continue technology innovation and digitalization already begun, as well as expand into new areas of business growth.
Specifically, as it relates to North America, the next three years of business will see an enhanced and electrified product lineup in the market, closer cooperation with Alliance member Nissan, and growing the company’s local leadership position in digital tools for sales and marketing areas across other global markets.
“Coming off two straight years of year-on-year retail sales growth in both U.S. and Puerto Rico and being named the number one mass-market brand in JD Power’s 2023 Customer Satisfaction Index study in the U.S., momentum is on the company’s side right now,” it stated in a press release.
