Electrification and Expansion: Mitsubishi's 2030 Plan

by TTAC Staff

Published: May 16th, 2024

Photo credit: Mitsubishi

Mitsubishi Motors North America, Inc. (MMNA) has introduced a comprehensive North American business strategy called "Momentum 2030." This plan, extending to the fiscal year 2030, details the company’s initiatives in electrification, product line expansion, dealership growth, and technological advancement. The strategy was presented to dealer partners in Nashville, Tennessee, generating considerable positive feedback.

Path to Electrification

One of the core aspects of Momentum 2030 is advancing electrification. MMNA plans to offer a variety of powertrains, including hybrids, plug-in hybrids, and battery electric vehicles. This shift aims to meet the growing demand for eco-friendly vehicles and aligns with broader industry trends towards sustainable transportation.

Expanding Product Line-Up

MMNA intends to introduce one new or completely refreshed vehicle each year from fiscal 2026 to fiscal 2030. This expansion will include two all-new vehicles in segments where Mitsubishi currently does not compete. By 2030, the company's U.S. vehicle lineup will nearly double from its current offerings.

Modernized Retail Sales Model

The business plan includes a commitment to modernizing the retail sales model. MMNA aims to incorporate more technology into the sales process to appeal to a younger, more tech-savvy customer base. This approach is expected to enhance the shopping and ownership experience, making it faster and more streamlined.

Network Expansion and Sales Growth

To increase market presence, MMNA will expand its dealer network across the U.S. This move is designed to make Mitsubishi vehicles more accessible to a broader customer base, which is anticipated to drive sales growth through 2030. New dealership designs will reflect modern retail concepts, contributing to a fresh customer experience.

Investment in People and Production

MMNA will boost its investment across North America, focusing on both human resources and production facilities. Some vehicles will be produced locally using Alliance assets, supporting regional economic growth and job creation.

Future Prospects

MMNA's Momentum 2030 plan sets a clear path for the company's growth and evolution in the North American market. By emphasizing electrification, expanding the product lineup, modernizing retail models, and increasing market presence, Mitsubishi Motors aims to enhance its brand and achieve sustained progress.

This article was co-written using AI and was then heavily edited and optimized by our editorial team.

TTAC Staff

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Yuda on May 16, 2024
Depressing

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