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TOKYO, Mar 10, 2023 - (JCN Newswire) - Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) today announced its three-year mid-term business plan (fiscal 2023 to 2025), Challenge 2025, to take on the challenge of further growth and the next generation.
On the basis of the lean and agile business structure put in place through structural reforms enacted thus far, this plan will establish a stable revenue base through selection and concentration in Mitsubishi Motors' regional strategy and the continuation of company-wide revenue improvement activities. In addition, Mitsubishi Motors will achieve sustainable growth through higher and stable spending on R&D and CAPEX, which will include increased expenditure on electrification, IT and new business as a proportion of total expenditure.
In terms of products, Mitsubishi Motors will continue to work on electrification as a solution to the global-level issue of climate change and to help achieve carbon neutrality. The company's regional strategy will see it accelerate the selection and concentration it has employed thus far and clarify the role of each region, before distributing management resources accordingly. In terms of business, as well as working on value chain expansion, Mitsubishi Motors will take on the challenge of new business to create new future sources of revenue. Furthermore, the company will build long-term relationships of trust with customers through products and technology encapsulating Mitsubishi Motors-ness, and promote our brand value.
The main initiatives of this plan are as follows:
- Aim for a sales volume in the 1.1 million vehicle and operating profit of 220 billion yen (OP margin 7%)
- Concentrate management resources in ASEAN / Oceania, and increase sales volume, market share, and revenue.
- In the next five years roll out 16 models (including nine xEVs)
- Increase the investment by around 30% over the six years to 2028 compared with the past six years in R&D expenses and CAPEX
- (Allocation of investment on electrification, IT and new business is expected to reach around 70% from FY2026 onward)
- Reduce emissions of greenhouse gases in order to help achieve carbon neutrality
- Invest a total of 210 billion yen by 2030 to procure 15GWh of battery procurement
- Further bolster linking with Alliance (mutually complementary OEM products, etc.)
- Take on the challenge of new business using assets unique to an automobile manufacturer (energy management, battery reuse, data sales, etc.)
For more information about the Challenge 2025 mid-term business plan, please access:
www.mitsubishi-motors.com/en/investors/corpmanage/plan.html
About Mitsubishi Motors
Mitsubishi Motors Corporation (TSE:7211) --a member of the Alliance with Renault and Nissan--, is a global automobile company based in Tokyo, Japan, which has about 30,000 employees and a global footprint with production facilities around the world. Mitsubishi Motors has a competitive edge in SUVs, pickup trucks and plug-in hybrid electric vehicles, and appeals to ambitious drivers willing to challenge convention and embrace innovation. Since the production of our first vehicle more than a century ago, Mitsubishi Motors has been a leader in electrification--launched the i-MiEV -the world's first mass-produced electric vehicle in 2009, followed by the Outlander PHEV -the world's first plug-in hybrid electric SUV in 2013. For more information on Mitsubishi Motors, please visit the company's website at www.mitsubishi-motors.com/en/.
Topic: Press release summary
Source: Mitsubishi Motors
Sectors: Automotive
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