Mitsubishi Announces EV Comeback Supported by Nissan
Japanese automaker Mitsubishi announced in a press release on May 7 that it will launch a new electric vehicle in the United States and Canada in summer 2026. The automaker says that its re-entry into EVs is a joint effort with its alliance partner Nissan, as it fills the hole left by the i-MIEV in 2017.
"The addition of this new battery-electric vehicle to our lineup will deliver a blend of internal combustion engines, plug-in hybrids, and electric vehicles, so that our customers have the choice of technology that best suits their needs," Mitsubishi Motors North America President and CEO Mark Chaffin said.
Exact details about Mitsubishi's new EV are scarce, but it's confirmed that it will share the underpinnings of the next-generation Nissan Leaf, which itself is due to arrive later this year. Mitsubishi says that the still-to-be-named EV will be sold alongside the Outlander Plug-in Hybrid and the rest of its crossover-centric lineup, which also includes the Outlander Sport and Eclipse Cross.
Nissan introduced the 2026 Leaf in March as part of a larger announcement that included several new and refreshed models across its lineup. The automaker is said to have "reimagined" the third generation of the Leaf as a "sleek and spacious family-friendly crossover," as it shares the modular CMF-EV platform that underpins the larger Ariya. In addition to increased range and improved aerodynamics, Nissan says the new Leaf will also feature an integrated NACS charging port, which will allow it to connect to the Tesla Supercharging network of EV fast chargers.
Mitsubishi Motors North America President and CEO Mark Chaffin noted that the announcement of this new EV is the next step in its North American "Momentum 2030" business plan, which aims to launch "a new or significantly revised vehicle every year between 2026 and 2030."
"Today's announcement is the first of many to come that reinforce our commitment to the U.S. market, to providing the best vehicles we can for our customers, and ensuring a long and healthy future for our company in the U.S. and globally," he said. "Momentum 2030 is more than a business plan; it is a rallying cry for our company, for our employees, for our dealer partners, and for our loyal and new customers. Our plan is clear, our path is mapped out."
Mitsubishi's announcement comes as the automaker reported solid Q1 2025 sales. Last quarter, the automaker sold 31,637 vehicles in North America, an 11% increase compared to the same period in 2024. Despite this, the situation at Mitsubishi dealers tells otherwise.
According to financial data seen by Automotive News, Mitsubishi dealers are struggling to make a profit. The average net profit at Mitsubishi dealerships dramatically dipped by nearly half from levels seen in 2020, averaging just $434,199 last year. Additionally, average dealership net profit as a percentage of sales slipped from 2.2% in 2023 to just 0.92% in 2024.
In this environment, where only about 66,000 new Mitsubishis rolled out of dealers last year (an average of about 17 new Mitsubishis sold every month at one dealer), dealers are mixed about what the new EV could do for them. In a statement to Automotive News, an unnamed Mitsubishi dealer welcomed the lineup expansion, but the lack of details prevented them from fully backing the idea, citing the need for affordable vehicles.
"If we get an EV that's $40,000-plus, that won't work," they told AutoNews. "We need affordable vehicles. That's where the market is."
I honestly agree with the dealer that Mitsubishi needs to make this new Leaf-based EV a very compelling package for under $40,000, as the limbo game of affordability is having an effect on potential car buyers.
It should also be noted that Mitsubishi has not announced an end to its holding of imported vehicles at the port. Nearly every model in the Mitsubishi portfolio is built in Japan; however, US-market versions of Nissan's current iteration of the Leaf are built in Smyrna, Tennessee, using components made in Japan. We will have to wait for further information about range, power, and most importantly, pricing, for both the unnamed Mitsubishi EV and the Nissan Leaf.
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