Mitsubishi plans 8 eco-friendly cars by 2015-16

Mitsubishi Motors Corp. plans to launch eight models of electric cars and plug-in hybrids by the financial year that ends in March 2016, the Japanese carmaker said. The strategy includes the introduction of hybrid vehicles in the 2013-14 financial year. Mitsubishi produces an electric hatchback, but has yet to introduce hybrid models. It plans to also expand its line-up by introducing vehicles such as compact, fuel-efficient cars and sports utility vehicles to boost sales in emerging markets. Mitsubishi said it would build a third factory in Thailand, making it Mitsubishi’s second-largest export hub after Japan. In China, the carmaker plans to expand its capacity by reinforcing a joint venture with a local partner, it said. Mitsubishi said it aims to sell 1.37 million vehicles and boost group sales to ¥2.5 trillion (US$30.3 billion) in the 2013-14 financial year, from a projected ¥1.9 trillion (US$23.1 billion) this fiscal year. (January 24, 2011)