Mitsubishi pivots to EVs, to focus on ASEAN from 2025 onwards

Mitsubishi Motors Corporation has announced that by 2030, it will be selling mainly Hybrid, Plug-in, and Battery Electric Vehicles.

According to its Fiscal Year 2023-2025 Mid-Term Business Plan published in March 2023, the Japanese automaker has said that from 2025 onwards, it will start selling a diverse lineup of ICE and EV-powered models. From 2030 onwards, EVs will form the majority of its portfolio.

It has also identified electrification as one of its core technologies in its vision to reposition the brand by 2025. This adds to its reputation of durability and reliability, comfort, and four-wheel control, all attributes already associated with the Mitsubishi brand.

The Challenge 2025 mid-term plan has identified ASEAN and Oceania as Mitsubishi's core business regions. It will focus on growing sales volume, market share, and regional revenue. 

What’s new?

The brand will roll out a new Visual Identity (VI), or look, for its stores to achieve this goal. And we wouldn’t be surprised to see more black on its showroom redesign, as is the trend with other brands’ VI implementations lately.

It will also focus on digital and connected services and apps while building and encouraging more value-oriented activities and experiences.

New ICE models in the meantime

Mitsubishi will have consecutive rollouts of new products from 2025 onwards. According to its published product road map, 12 new models, 7 of which will be electrified, will become available over the next five years in the ASEAN growth driver region. The XFC Concept will see production in ASEAN later this year.

An all-new Strada will begin rolling out presumably at the Bangkok Motor Show this coming March 21st. And the next-generation model could have a Battery EV variant in the mix.

A new Pickup Platform Vehicle or PPV will arrive by 2025 and could be the all-new Montero Sport. However, a new three-row SUV will be launched ahead of the Montero, which could adopt a unibody platform. We wouldn’t be surprised if it goes after the market share of the SUV-inspired, front-wheel drive, all-new Toyota Innova (Specs | News).

However, just before these introductions, Mitsubishi will release a hybrid version of the Xpander around early 2024. 

Oh, if you’re expecting an all-new Mirage, tough luck. That nameplate ends with the current generation for now with not even a facelift to the Dynamic Shield look as found in other countries in sight.

Where is Mitsubishi headed?

The year 2025 is a giant leap for Mitsubishi, and it foresees introducing its first Battery Electric Vehicle to be developed in cooperation with Nissan and Renault. As well as sustaining its ongoing EV offerings in the Outlander and Minicab-MiEV.

But the fact remains that it is running late with its electrification efforts. Even Toyota is well within its hybrid game today. 

It will be challenging for Mitsubishi to keep its market share amidst a growing slew of electrified options from China and its Japanese competitors. Fortunately for the diamond brand, ASEAN is slow in rolling out EVs, except for Thailand and Indonesia. So that could afford some time to catch up. 

So the next two years will be crucial for the brand as it attempts to maintain its market share. That could be a stretch with only one or two all-new models in the pipeline.