Mitsubishi Motors steps back from own EVs to favor partnerships
Mitsubishi Motors is stepping back from making its own electric vehicles, pointing to high costs and slowing global demand.
CEO Takao Kato shared at a recent shareholder meeting that building a custom EV would need "massive investment" and could lead to big losses if sales don't take off.
So, instead of risking it all, Mitsubishi is sticking with partnerships and rebadged models.
Mitsubishi leans on cost effective collaborations
Rather than starting from scratch, Mitsubishi has launched the Eclipse Sportback (basically a Nissan Leaf in disguise) and plans another EV built by Foxconn for Japan and Australia this year.
With fewer resources compared to rivals like Honda, Mitsubishi is leaning on these cost-effective collaborations to stay in the race, especially since their early EV days with the i-MiEV are now behind them.