Latest news with #Momentum2030
Miami Herald
08-05-2025
- Automotive
- Miami Herald
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. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Herald Sun
08-05-2025
- Automotive
- Herald Sun
iPhone car to launch first in Australia
Don't miss out on the headlines from On the Road. Followed categories will be added to My News. Aussie drivers are set to be the guinea pigs for a groundbreaking new electric vehicle from the makers of the iPhone. Japanese car giant Mitsubishi has announced it will partner with Taiwanese electronics maker Foxtron to co-develop a new EV aimed at countering China's emerging dominance of the small SUV market. Mitsubishi Motors Corporation will work with Foxtron Vehicle Technologies, the EV division of iPhone maker Foxconn and Taiwanese car manufacturer Yulon to bring the new electric car offering to market. Mitsubishi said the car, which media reports say could be a rebadged Foxtron Model B and a successor to the ASX. will be developed and launched for the Australian market. It could feature some of the most exciting and user-friendly tech ever witnessed in an EV. MORE: Aussie car prices set to plummet Japan's once all conquering car manufacturing industry has faced heightened competition from South Korean firms and now China's heavily government supported industry is taking that battle for consumers' wallets to the next level. And Mitsubishi is fighting back. The company said the move to partner with Foxconn is part of its strategic business plan dubbed Momentum 2030, which promises the launch of a 'new or significantly revised vehicle every year between 2026 and 2030'. The first car launched or 'revised' as part of that plan was the 2025 Outlander, an updated version of the mid-size SUV that was first sold in Australia in 2023. Mitsubishi's new EV collaboration with Foxtron – which makes electronics including the Apple iPhone, Sony PlayStation and Nintendo Switch – is expected to be made available in Australia in the second half of next year. MORE: Bizarre flying Star Wars bike becomes reality 'Mitsubishi Motors Australia welcomes confirmation of this exciting partnership between Mitsubishi Motors Corporation and Foxtron and we are looking forward to working closely to deliver a great product for Australian customers,' Mitsubishi Motors Australia CEO Shaun Westcott said. 'This pure EV model is the latest step in our Momentum 2030 plan and offers another string to our multi-powertrain bow that will see us through to the next decade. 'It will join a refreshed Mitsubishi range that already offers petrol, diesel and PHEV options that fit Australian lifestyles, all with our innovative 10/10 warranty and capped-price servicing plan. 'It is also further evidence of our core market relationship with MMC, with Australia the first Mitsubishi market to receive this vehicle from launch, and signifies our ongoing strength.' Mitsubishi currently does not have a pure EV for sale in Australia. MORE: Motoring giant's huge U-turn on Trump The Model B features super cool styling from design company Pininfarina and offers 450km of range when fully charged. However, Mitsubishi hasn't yet revealed the specifics of its newest creation. It will slot into the Aussie small SUV market as a competitor to the likes of the Hyundai Kona EV and BYD Atto 3. Foxconn has strong ambitions to become a big player in car manufacturing and earlier this year shaped up to take a stake in Nissan after the Japanese firm plunged into crisis cutting 9000 jobs and reducing production by 20 per cent. However Nissan instead flirted with a merger with fellow Japanese maker Honda before that proposal fell over amid disagreement over what form the coming together would take. Foxconn appears to have taken that rejection on the chin and moved on with Mitsubishi, with Australians set to be the first to enjoy the spoils of that partnership. Originally published as iPhone car coming to Australia
Digital Trends
08-05-2025
- Automotive
- Digital Trends
Mitsubishi's back in the EV game—with a new electric SUV coming in 2026
Mitsubishi is officially jumping back into the U.S. electric vehicle scene—and this time, it's not just dipping a toe. The company confirmed it will launch a brand-new battery-electric SUV in North America starting in summer 2026, marking its first fully electric model here since the quirky little i-MiEV left the stage back in 2017. The new EV will be a compact crossover, and while Mitsubishi is keeping most of the juicy details under wraps, we do know it'll be based on the same next-gen platform as the upcoming Nissan Leaf. That means it'll ride on the CMF-EV architecture—the same one underpinning the Nissan Ariya—which supports ranges of up to 300+ miles. So yeah, this won't be your average entry-level EV. Recommended Videos Designed in partnership with Nissan, the new model will be built in Japan and shipped over to U.S. shores. No word yet on pricing, battery size, or even a name, but Mitsubishi has made it clear this EV is just the beginning. As part of its 'Momentum 2030' plan, the company promises a new or updated vehicle every year through the end of the decade, with four electric models rolling out by 2028. And yes, one of those might even be a pickup. Mitsubishi says the goal is to give customers 'flexible powertrain options,' which is marketing speak for: 'We'll have something for everyone.' So whether you're all-in on electric or still into gas or hybrid power, they're aiming to have you covered. This mystery EV will eventually sit alongside Mitsubishi's current U.S. lineup—the Outlander, Outlander PHEV, Eclipse Cross, and Outlander Sport—and help the brand move beyond its current under-the-radar status in the electric world. In short: Mitsubishi's finally getting serious about EVs, and if this new SUV lives up to its potential, it might just put the brand back on your radar.
The Verge
07-05-2025
- Automotive
- The Verge
Mitsubishi's next EV is based on the upcoming Nissan Leaf coming in 2026
Mitsubishi will launch a new electric vehicle in North America next summer that's based on Nissan's upcoming third-generation Leaf. The new EV, which will be Mitsubishi's second-ever in the US after the pioneering i-MiEV, is part of the company's 'Momentum 2030' growth plan where it will launch 'a new or significantly revised vehicle every year between 2026 and 2030.' Mitsubishi hasn't yet given a name to its EV or provided any other technical details, including its expected EPA-estimated range. Like the new Leaf, it will use the CMF-EV platform that also underpins the Ariya SUV and is rated for up to 304 miles on a single charge. In a press release, Mitsubishi Motors North America CEO Mark Chaffin said the company is on an 'upward trajectory,' especially in the US. Mitsubishi reported an 11 percent increase of sales year over year in Q1 2025, led by its Outlander SUV that also comes in a plug-in hybrid version. Chaffin says Mitsubishi's new EV will be part of a fresh lineup that includes a blend of internal combustion, plug-in hybrids, and electric vehicles that give customers 'the choice of technology that best suits their needs.' Mitsubishi has not yet announced where the new EV will be built. The company once had a plant in Normal, Illinois, which is now owned and operated by Rivian. In order to avoid heavy tariffs imposed by the Trump administration (currently set at 25 percent on cars and trucks from Japan), Mitsubishi may need to figure out a domestic manufacturing plan soon.
Yahoo
07-05-2025
- Automotive
- Yahoo
Mitsubishi Motors Confirms All-new Battery-electric Vehicle Will Be Sold in North America Starting Summer 2026
This BEV model represents a huge step in the Company's recently announced Momentum 2030 product strategy for the U.S. market The new BEV will be sold alongside the Outlander Plug-in Hybrid, the world's first plug-in hybrid SUV 1 The new BEV will be sourced from Mitsubishi Motors' Alliance partner, Nissan Motor Co., Ltd., and based on the next-generation Nissan LEAF Announcement reinforces strength of the Momentum 2030 long-term North American business plan FRANKLIN, Tenn., May 7, 2025 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) today confirmed the next step in the brand's march toward its North American business plan, dubbed Momentum 2030. Among other commitments, the plan promised the launch of "a new or significantly revised vehicle every year between 2026 and 2030." That promise has already started with the recent debut of the new 2025 Outlander SUV. Mitsubishi Motors Momentum 2030 Lineup Today's announcement confirms that Mitsubishi Motors will work with its Alliance partner, Nissan Motor Co. Ltd., to bring a battery electric vehicle (BEV) to market in the United States and Canada. The vehicle will be based on the next-generation Nissan LEAF, and will be available starting in summer 2026, at dealer partners across both countries. More details about the vehicle, including naming, imagery, technical specifications, pricing and on-sale timing will be the subject of future announcements. "Mitsubishi Motors is on an upward trajectory, especially in the United States," said Mark Chaffin, president and CEO, MMNA. "When we launched the Momentum 2030 long-term business plan to our dealer partners last May, there was a buzz in the room about an exciting future, but there was a desire for more concrete timing and plans. 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." Chaffin continued, "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. 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." The path to Mitsubishi Motors Momentum 2030 is defined by four key points:
