TOKYO — Rebounding Mitsubishi Motors will pour more than $10 billion into electrified vehicles and battery production through 2030 as it expands its battery-powered lineup in advanced markets such as North America, partly by leaning on help from Nissan Motor Co. and Renault.
CEO Takao Kato unveiled the push Friday while announcing a new midterm plan.
The sweeping road map focused heavily on electrification but included a slew of business targets including a global sales goal of 1.1 million vehicles for the fiscal year ending March 31, 2026.
That goal is up from an expected 866,000 units this fiscal year. But the target still doesn't quite build back to Mitsubishi Motor Corp.'s pre-pandemic worldwide volume of 1.127 million vehicles.