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80-816: The C-ZERO is the French version of the Mitsubishi i-MiEV electric vehicle, based on the Mitsubishi i a kei car sold in Japan , and is the result of the partnership between PSA and Mitsubishi. After the Peugeot iOn was presented at the Frankfurt Auto Show , the Citroen C-ZERO marks the second part of the marketing of electric vehicles in Europe. The C-ZERO expands Citroëns small-vehicle range with

160-925: A 10% stake in the company, until disposing of the last of its remaining shares in March 2003. The 1985 Hyundai Excel was sold in the United States as the Mitsubishi Precis between 1987 and 1994, whereas several other Mitsubishi models were rebadged as Hyundai, namely the Mitsubishi Chariot (as the Hyundai Santamo ), the Mitsubishi Pajero (as the Hyundai Galloper ) or the Mitsubishi Delica (as

240-592: A 100% electric car. It is designed to facilitate urban mobility: small size, quick charging and sufficient range for daily commutes. Citroën had already tried to produce an electric car in the 1990s; it was a variation of the Citroën Saxo which proved too expensive because the cost of batteries and had limited range, so this initiative did not go beyond the experimental stage (only 5,500 units were sold). The C-ZERO has an electric motor which delivers 47 kilowatts or 64 horsepower 3,000 to 6,000 rpm. Its maximum torque

320-482: A Mitsubishi takeover, which proved effective. Although sales of SUVs and light trucks were booming in the U.S., Japan's car manufacturers dismissed the idea that such a trend could occur in their own country. Nakamura, however, increased the budget for SUV product development, and his gamble paid off; Mitsubishi's wide line of four-wheel drive vehicles, from the Mitsubishi Pajero Mini kei car to

400-456: A business district. Hisaya was succeeded by his cousin Koyata in 1916, and during his time as president the group saw a significant expansion. In 1917, he funded the establishment of an optics company and became the majority shareholder, which later became Nikon . During this era, Mitsubishi Heavy Industries was at the forefront of Japan's aircraft development. He reorganised the group into

480-534: A company established in 1920 to manufacture aircraft engines and other parts. The unified company was known as Mitsubishi Heavy Industries (MHI), and was the largest private company in Japan. MHI concentrated on manufacturing aircraft , ships , railroad cars and machinery, but in 1937 developed the PX33 , a prototype sedan for military use. It was the first Japanese-built passenger car with full-time four-wheel drive ,

560-464: A form similar to what it is now, and he spun off each department into a subsidiary. Most of them later went public, as he thought that for the sake of the expansion of business, more core capital was needed. The group was organised as follows: The firm's prime real estate holdings in the Marunouchi district of Tokyo, acquired in 1890, were spun off in 1937 to form Mitsubishi Estate , now one of

640-610: A going concern by International Motors (a firm previously known for launching Hyundai onto the UK market in 1981). Mitsubishi Motors plans to stop developing car platforms for the Japanese market and instead use vehicle bases made by ally Nissan Motor beginning around 2026. The Colt name appears frequently in Mitsubishi's history since its introduction as a rear-engined 600-cc sedan in the early 1960s. Today, it most commonly refers to

720-799: A joint venture with Mitsubishi that started 1998. Models produced at the Tiruvallur , Tamil Nadu plant included the Mitsubishi Pajero Sport (third generation) until 2016. Upon selling its Volvo Cars division to Ford in January 1999, Volvo Group purchased a 5% stake in Mitsubishi Motors in November of that same year, but sold its stake to shareholder DaimlerChrysler in March 2001. Mitsubishi has been allied with PSA Group since 1999, after they agreed to co-operate on

800-659: A member of the Renault–Nissan Alliance (the "Alliance"). Nissan has said that they plan to share some car platforms and jointly develop future vehicles with Mitsubishi Motors. Nissan's acquisition of the 34% controlling interest in Mitsubishi Motors was completed in October 2016, when Carlos Ghosn , the chairman of Nissan, Renault , and the Alliance, also became chairman of Mitsubishi Motors. Ghosn remained chairman of Mitsubishi until his dismissal following his arrest by

880-675: A technology the company would return to almost 50 years later in its quest for motorsport and sales success. Immediately following the end of the Second World War , the company returned to manufacturing vehicles. Fuso bus production resumed, while a small three-wheeled cargo vehicle called the Mizushima and a scooter called the Silver Pigeon were also developed. However, the zaibatsu (Japan's family-controlled industrial conglomerates) were ordered to be dismantled by

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960-888: A unified company that existed from 1870 to 1946. The company, along with other major zaibatsu, was disbanded during the occupation of Japan following World War II by the order of the Allies . Despite the dissolution, the former constituent companies continue to share the Mitsubishi brand and trademark . While the group of companies engages in limited business cooperation, most notably through monthly “Friday Conference” executive meetings, they remain formally independent and are not under common control. The three main entities ( gosanke ) are Mitsubishi UFJ Financial Group (the largest bank in Japan), Mitsubishi Corporation (a general trading company), and Mitsubishi Heavy Industries (diversified manufacturing companies). A 2020 estimate concluded that all

1040-405: A ¥540-billion emergency rescue of Mitsubishi Motors in January 2005, in partnership with Mitsubishi Corporation and Mitsubishi Tokyo Financial Group . As part of the rescue, MHI acquired ¥50 billion of Mitsubishi Motors stock, increasing its ownership stake to 15% and making the automaker an affiliate again. The emergency rescue was carried out 4 years after a product recall scandal in Japan that

1120-429: Is 180 Nm from 0 to 2,000 rpm. The motor is powered by lithium-ion batteries, located in the centre of the vehicle. This technology offers a limited battery weight compared to traditional technologies. In terms of performance, C-ZERO has a maximum speed of 130 km/h (81 mph), goes from 0 to 100 km/h (62 mph) in 15s and 60 km/h (37 mph) to 90 km/h (56 mph) in 6 seconds. The range of

1200-602: Is reflected in the company's logo . Part of Tomio Kubo's expansion strategy was to increase exports by forging alliances with well-established foreign companies. Therefore, in 1971, MHI sold U.S. automotive giant Chrysler a 15% share in the new company. Thanks to this deal, Chrysler began selling the Galant in the United States as the Dodge Colt (which was the first rebadged Mitsubishi product sold by Chrysler), pushing MMC's annual production beyond 250,000 vehicles. In 1977,

1280-550: The Allied powers in 1950, and Mitsubishi Heavy Industries was split into three regional companies, each with an involvement in motor-vehicle development: West Japan Heavy-Industries, Central Japan Heavy-Industries, and East Japan Heavy-Industries. East Japan Heavy-Industries began importing the Henry J , an inexpensive American sedan built by Kaiser Motors , in knockdown kit (CKD) form in 1951, and continued to bring them to Japan for

1360-784: The Cold War made the Eastern Bloc more menacing than the possible revival of a strong Japan and Germany , the occupation forces’ initial aim, just like in Germany, was to weaken the Japanese economy so that the country could never wage war against them. Under this policy, Mitsubishi as a group was dissolved. Mitsubishi Heavy Industries and Mitsubishi Chemical were split into three separate entities. On his deathbed, Koyata Iwasaki staunchly defended his actions, asserting that he had done his utmost for his country and had nothing to be ashamed of. Despite his resistance, he could not defy

1440-643: The Colt T120SS light truck between 1991 and 2019 based on the Suzuki Carry . Despite the same bodywork, the fascia is unique to Mitsubishi and it is manufactured in the local Mitsubishi plant. The engine used is either Mitsubishi's 1.3 L (1,343 cc) carbureted 4G17 or the bigger 1.5 L (1,468 cc) fuel-injected 4G15 . In 2005, the alliance continued by rebadging the Suzuki APV to Mitsubishi Maven . Few styling changes were applied, and

1520-673: The Delica Space Gear passenger van, rode the wave of SUV-buying in Japan in the early to mid-1990s, and Mitsubishi saw its overall domestic share rise to 11.6% in 1995. In 1991, Chrysler sold its equity stake in Diamond-Star Motors to its partner Mitsubishi Motors, and from then on the two companies continued to share components and manufacturing on a contractual basis only. Chrysler decreased its interest in Mitsubishi Motors to less than 3% in 1992, and announced its decision to divest itself of all its remaining shares on

1600-656: The Hyundai Porter ) and Mitsubishi Proudia (as the Hyundai Equus ). The South African Motor Corporation ( Samcor ) (previously also called Sigma Corporation and MMI) was a joint venture created in 1985, which produced Ford , Mazda , and Mitsubishi vehicles for the local South African market, with the Mitsubishi Delica being rebadged as the Ford Husky minibus and the Mitsubishi Canter as

1680-536: The Lancer , Grandis , and Outlander . From 2010, they were superseded with Mitsubishi's self-developed 4N1 diesel engines. As of 2006, Mitsubishi had four joint ventures with Chinese partners: In December 2010, Mitsubishi and Nissan agreed to form a joint venture (later named " NMKV Co., Ltd.") to develop kei cars for the Japanese market. In 2016, Nissan uncovered evidence that Mitsubishi's fuel-economy testing numbers were erroneous and had been erroneous since

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1760-529: The Mitsubishi Debonair as a luxury car primarily for the Japanese market, and was used by senior Mitsubishi executives as a company car. West Japan Heavy-Industries (now renamed Mitsubishi Shipbuilding and Engineering) and East Japan Heavy-Industries (now Mitsubishi Nihon Heavy-Industries) had also expanded their automotive departments in the 1950s, and the three were reintegrated as Mitsubishi Heavy Industries in 1964. Within three years, its output

1840-801: The Proton Inspira (the Proton Waja replacement) was again based on the Mitsubishi Lancer platform and officially launched on 10 November 2010. Mitsubishi participated in a joint venture with rival carmaker Volvo and the Dutch government at the former DAF plant in Born in 1991. The operation, branded NedCar , began producing the first-generation Mitsubishi Carisma alongside the Volvo S40/V40 in 1996. The factory later produced

1920-780: The Wira and Perdana were based on the Lancer/Colt and Galant/Eterna, respectively, before the company finally produced entirely self-developed vehicles, the Waja in 2000, and the Proton Gen-2 in 2004. At its peak, the Proton controlled 75% of its domestic market, even after Mitsubishi ended their 22-year partnership in 2005, selling their 7.9% stake for RM 384 million to Khazanah Nasional Berhad . However, in October 2008, Proton renewed its technology-transfer agreements with MMC, and

2000-712: The 4G15 engine was used instead of Suzuki's G15A engine. The Maven was discontinued in 2009 due to poor sales. The Colt T120SS was discontinued in 2019 as the base vehicle, the Suzuki Carry was updated, and Mitsubishi was not interested in continuing the alliance. In Japan, Mitsubishi had rebadged the Suzuki Solio as the Delica D:2 and the Suzuki Every as the Minicab . Indian manufacturer Hindustan had

2080-664: The Australian-built Mitsubishi Sigma to the UK as the Lonsdale YD41 in an attempt to circumvent British import quotas, but the new brand was unsuccessful. It then carried Mitsubishi Sigma badges in 1983–84 before abandoning this operation entirely. South Korean manufacturer Hyundai , built the Hyundai Pony in 1975 using MMC's Saturn engine and transmissions. Korea's first car, it remained in production for 13 years. Mitsubishi held up to

2160-538: The C-ZERO look like a step backwards compared to many newer cars, but still around the average for a small hatchback. The tested model was a left hand drive 5-door hatchback registered in 2011: Euro NCAP also states that "Accordingly, Euro NCAP believes that the star rating of the i-MiEV can also be applied to the Citroen C-Zero." This appears to be because the Citroen C-ZERO is a rebadged Mitsubishi i-MiEV and has

2240-672: The Eclipse and Galant were being explored in Ukraine, the Middle East, and Russia, where the company's bestselling dealership is located. Mitsubishi Motors has also been active in OEM production of cars for Nissan , and announced a similar partnership with Groupe PSA in July 2005 to manufacture an SUV on their behalf. Mitsubishi Motors reported its first profitable quarter in four years in

2320-647: The Ford Triton light truck. Samcor also made a version of the Mazda 323 for the UK market called the Sao Penza, which was a marque like Lonsdale YD41 , invented to get around British import quotas. Malaysian manufacturer Proton was initially very dependent on Mitsubishi Motors, assembling their 1985 Proton Saga using mostly MMC components at a newly established facility in Shah Alam . Subsequent models like

2400-677: The Galant was sold as the Chrysler Sigma in Australia. By 1977, a network of "Colt"-branded distribution and sales dealerships had been established across Europe, as Mitsubishi sought to begin selling vehicles directly. Annual production had by now grown from 500,000 vehicles in 1973 to 965,000 in 1978, when Chrysler began selling the Galant as the Dodge Challenger and the Plymouth Sapporo . However, this expansion

2480-703: The Japanese government in November 2018, when Mitsubishi Motors CEO Osamu Masuko assumed the chairmanship. By 2023, Renault Group began supplying Mitsubishi in Continental Europe, with the Renault Clio and Renault Captur rebadge as the Colt and ASX. The firm has no plans to sell any of the models in Britain or Ireland, as the Colt Car Company's Mitsubishi aftersales business was bought as

Citroën C-Zero - Misplaced Pages Continue

2560-601: The Mitsubishi Colt subcompact in the company's line-up, but is also the name of MMC's import/distribution company in the United Kingdom, the Colt Car Company , established in 1974. For the first decade of its existence, before Far Eastern auto manufacturers had established their reputations, its cars carried the "Colt" badge in Britain instead of "Mitsubishi". In 1982 and 1983, Mitsubishi introduced

2640-688: The Mitsubishi Shipbuilding Co., Ltd., introduced the Mitsubishi Model A , Japan's first series-production automobile. An entirely hand-built seven-seater sedan based on the Fiat Tipo 3, it proved expensive compared to its American and European mass-produced rivals, and was discontinued in 1921 after only 22 had been built. In 1934, Mitsubishi Shipbuilding was merged with the Mitsubishi Aircraft Co.,

2720-452: The Mitsubishi companies combined generate 7.7% of the total revenue of all publicly traded companies in Japan, and the group's assets amount to 433 trillion yen. The Mitsubishi company was established as a shipping firm by Iwasaki Yatarō (1834–1885) in 1870 under the name "Tsukumo Shokai" ( 九十九商会 ) . In 1873, its name was changed to Mitsubishi Shokai ; Mitsubishi ( 三菱 ) consists of two parts: " mitsu " (三) meaning "three" (as in

2800-612: The aircraft division. The logo of three red diamonds, shared with over 40 other companies within the keiretsu , antedates Mitsubishi Motors itself by almost a century. It was chosen by Iwasaki Yatarō , the founder of Mitsubishi, as it was suggestive of the emblem of the Tosa clan who first employed him, and because his own family crest was three rhombi stacked atop each other. The name Mitsubishi ( 三菱 ) consists of two parts – mitsu meaning "three" and hishi (which becomes " bishi " under rendaku ) meaning " water caltrop " (also called "water chestnut"), and hence "rhombus", which

2880-400: The automotive division of Mitsubishi Heavy Industries . Mitsubishi Fuso Truck and Bus Corporation , which builds commercial-grade trucks, buses, and heavy construction equipment, was formerly a part of Mitsubishi Motors, but is now owned by German automotive corporation Daimler Truck , with Mitsubishi continuing to own a small stake. Mitsubishi's automotive origins date back to 1917, when

2960-419: The car is 130 km (81 mi). The C-ZERO has four seats and a trunk of 166 litres of volume. It offers many feature for comforts and security: power steering, ESP, six airbags, telematics , and independent housing for emergency and air conditioning. It takes six hours to fully charge the battery with a 230 V electrical outlet. However, via an external 400 V terminal at 125 A , it is possible to recharge

3040-407: The chairpersons and presidents of major Mitsubishi companies. By 1964, Mitsubishi Heavy Industries also remerged. The Friday Club symbolised the formation of an equal group of companies, rather than the revival of the pre-war Mitsubishi zaibatsu with Mitsubishi Headquarters at the apex. In 1970, Mitsubishi companies established the Mitsubishi Foundation to commemorate the centennial anniversary of

3120-457: The construction of a new manufacturing plant in Indonesia under a joint venture with Mitsubishi Corporation (40%) and a local company Krama Yudha Group (9%), with the maximum production capacity of 160,000 vehicles per year. In July 2015, the Mitsubishi Motors announced that it plans to end production at the Diamond-Star Motors plant in Normal, Illinois , US, as the plant has been operating well below capacity for several years. Operations at

3200-492: The country had decided to wage a war with the United States and the British Empire , each member of the company ought to serve the country in fulfilling its only goal, but the company should not forget what it owed to people in these countries. Arguably, one of the most tangible ways in which Mitsubishi was involved in the war was through its supply of ships, aircraft and other arms by Mitsubishi Heavy Industries. The Mitsubishi A6M Zero fighter, designed by Dr. Jiro Horikoshi

3280-492: The crowded streets of Japan. Japanese media rumored in 1992 and 1993 that Mitsubishi Motors intended a hostile acquisition of Honda . While Mitsubishi was riding high off of profitable vehicles such as the Diamante and Pajero, Honda was caught off-guard with the SUV and truck boom, and was losing focus after the illness and later death of its founder . Honda CEO Nobuhiko Kawamoto took drastic steps, though, such as exiting Formula 1 and discontinuing unprofitable vehicles to avert

Citroën C-Zero - Misplaced Pages Continue

3360-485: The development of diesel engines using the Japanese company's gasoline direct injection technology. They united again in 2005 to develop the Peugeot 4007 and Citroën C-Crosser sport utility vehicles (SUVs), based on the Japanese company's Mitsubishi Outlander . Two further ties were established between the companies in 2008, first with the establishment of a jointly owned production facility in Kaluga , which will manufacture up to 160,000 Outlander-based SUVs for

3440-455: The facility ended in May 2016. The plant was sold to Maynards Industries, which sold the site to American electric vehicle startup Rivian in 2017. In May 2016, in the wake of the fuel-efficiency scandal uncovered by Nissan (discussed in "Fuel economy scandal" ), Nissan began the acquisition of a 34% stake in Mitsubishi Motors, with the aim of making Nissan the largest and controlling shareholder of Mitsubishi and turning Mitsubishi Motors into

3520-401: The fast-growing Russian market. They were also collaborating in the research and development of electric powertrains for small urban vehicles. Japanese newspaper Nikkei claimed that PSA will sell the electric city car Mitsubishi i MIEV in Europe by 2011. In Europe, Mitsubishi Motors used diesel engines supplied by German manufacturer Volkswagen for some of its mid-sized cars, such as

3600-419: The founding of the first Mitsubishi company. The companies also individually maintain charitable foundations. Mitsubishi pavilions have been highlights of expositions in Japan since EXPO'70 in Osaka in the 1970s to 1980s. The Mitsubishi Group is made up of about 40 individual companies without a controlling parent company. Each of the Mitsubishi companies owns substantial (but usually not controlling) portions of

3680-502: The idea of family motoring was taking off. Central Japan Heavy-Industries, now known as Shin Mitsubishi Heavy-Industries, had already re-established an automotive department in its headquarters in 1953. Now, it was ready to introduce the Mitsubishi 500 , a mass-market sedan, to meet the new demand from consumers. It followed this in 1962 with the Minica kei car and the Colt 1000, the first of its Colt line of family cars, in 1963. In 1964, Mitsubishi introduced its largest passenger sedan,

3760-438: The largest real estate development companies in Japan. During the Second World War , which was often advertised in government propaganda as a total war, Mitsubishi was a key player in the nation's wartime economy. Educated in England and having many business friends and partners in the Anglosphere , Koyata was opposed to fighting a war against the Allies. However, he famously stated in his speech on 10 December 1941 that once

3840-512: The latest Mitsubishi Colt and the related Smart Forfour (partner DaimlerChrysler cancelled its production in 2006). Production of European market-bound Mitsubishi Outlanders , and badge-engineered versions of this vehicle, were also manufactured in the Netherlands until 2012, when the company sold the plant to the Dutch industrial conglomerate VDL Groep . Mitsubishi Motors Europe 's headquarters and their European distribution center are still based in Born. In Indonesia, Mitsubishi offered

3920-407: The market capitalisation of the company was significantly less than its real estate holdings. They greenmailed , and other Mitsubishi companies had to buy the shares from them at an unjustly high price. This incident accelerated Mitsubishi's reintegration. In 1954, Mitsubishi Corporation was reformed, and the Mitsubishi Friday Club was established to foster camaraderie and information exchange among

4000-428: The mid-2000s. In addition to the Friday Conference, the group companies' heads of general affairs hold a meeting on the third Monday of each month, and the group companies' legal and IP departments hold a trademark policy coordination meeting on the first Friday of each month. The company briefly dabbled in television during the early 1990s, when it inked a deal with Westinghouse Broadcasting International to become

4080-469: The ongoing tensions between Chrysler and Mitsubishi, they agreed to unite in a vehicle manufacturing operation in Normal, Illinois . The 50/50 venture provided a way to circumvent the voluntary import restrictions, while providing a new line of compact and subcompact cars for Chrysler. Diamond-Star Motors (DSM)—from the parent companies' logos: three diamonds (Mitsubishi) and a pentastar (Chrysler)—was incorporated in October 1985, and in April 1986, ground

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4160-406: The only one of Japan's 11 auto manufacturers to be privately held. Mitsubishi Heavy Industries agreed to reduce its share to 25%, retaining its position as largest single stockholder. Chrysler, meanwhile, increased its holding to over 20%. The capital raised by this initial offering enabled Mitsubishi to pay off part of its debts, as well as to expand its investments throughout Southeast Asia, where it

4240-499: The open market in 1993. The two companies then terminated their close alliance, with Mitsubishi Motors no longer supplying parts for engines and transmissions for Chrysler. After this period, the company sought alliances with many other automotive manufacturers in different areas of the world, as described under "other alliances" below, with its most economically significant alliance being with Nissan to develop and manufacture kei cars. Mitsubishi Heavy Industries (MHI) participated in

4320-505: The operation of shipbuilding were used to expand the business further into the manufacture of aircraft and equipment. The experience of overseas shipping led the firm to enter into a trading business. In 1881, the company bought into coal mining by acquiring the Takashima Mine, followed by Hashima Island in 1890, using the production to fuel their extensive steamship fleet. They also diversified into shipbuilding, banking , insurance , warehousing, and trade. Later diversification carried

4400-411: The organization into such sectors as paper , steel , glass , electrical equipment, aircraft , oil , and real estate . As Mitsubishi built a broadly based conglomerate , it played a central role in the modernization of Japanese industry. In 1894, Hisaya Iwasaki succeeded his uncle Yanosuke as president. During his tenure until 1916, he modernised the Nagasaki Shipyard and developed Marunouchi as

4480-419: The remainder of the car's three-year production run. The same year, Central Japan Heavy-Industries concluded a similar contract with Willys (now owned by Kaiser) for CKD-assembled Jeep CJ-3Bs . This deal proved more durable, with licensed Mitsubishi Jeeps in production until 1998, 30 years after Willys had replaced the model. By the beginning of the 1960s, Japan's economy was gearing up; wages were rising and

4560-422: The sales channels have been combined into one franchise that sells all models, including kei cars and commercial delivery vehicles. Mitsubishi Group The Mitsubishi Group ( 三菱グループ , Mitsubishi Gurūpu ) is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group traces its origins to the Mitsubishi zaibatsu ,

4640-470: The same interior structure and equipment. Mitsubishi Motors (as of 30 September 2023) Mitsubishi Motors Corporation ( 三菱自動車工業株式会社 , Mitsubishi Jidōsha Kōgyō KK , lit.   ' Mitsubishi Automotive Industry Company ' , / m ɪ t s ʊ ˈ b iː ʃ i / , Japanese pronunciation: [mitsɯꜜbiɕi] ) is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo , Japan. In 2011, Mitsubishi Motors

4720-412: The shares of the others. Twenty-nine of the group companies participate in the Friday Conference ( 金曜会 , Kinyō-kai ) , a luncheon meeting of their most senior executives held on the second Friday of each month. The group began its tradition of monthly executive meetings in 1952, and over time the meetings became a venue for coordinating policy between the group companies. By the 1990s, this practice

4800-640: The start of the venture, affecting 625,000 cars produced by NMKV. The result of the "fuel economy scandal" was that Nissan acquired a controlling interest in Mitsubishi. In July 2024, Mitsubishi Motors and Nissan announced a partnership with Honda for the joint development of their future electric models. Mitsubishi Motors maintained two retail sales channels that sold specific models, called "Car Plaza" and "Galant Shop". Certain models were exclusive to either channel, while some models were available at both channels, as required by local Japanese market conditions. More recently, due to cancellation of larger sedans,

4880-434: The third Japanese manufacturer (after Daihatsu and Suzuki ) to begin assembly in China. Before receiving government approval for this project, Mitsubishi had to express contrition over "defective" Mitsubishi trucks imported to China in 1984 and 1985. By 1989, Mitsubishi's worldwide production, including its overseas affiliates, had reached 1.5 million units. Mitsubishi Motors went public in 1988, ending its status as

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4960-421: The third quarter of 2006, and returned to profitability by the end of the 2006 financial year, and sustained profitability and global sales of 1,524,000 through 2007 and later. In January 2011, the company announced its next midterm business plan to introduce eight hybrid and battery-powered models by 2015. It aimed to sell its first two plug-in hybrids by fiscal 2012. In March 2015, Mitsubishi Motors started

5040-456: The three oak leaves from the crest of the Yamauchi or Tosa family that ruled over Yatarō's birthplace and employed him) and " hishi " (菱, which becomes " bishi " under rendaku ) meaning " water caltrop ", and hence " rhombus ", which is reflected in the company's logo . It is also translated as "three diamonds". Mitsubishi was established in 1870, two years after the Meiji Restoration , with shipping as its core business. Its diversification

5120-418: The tide of the times. His cousin, Hisaya Iwasaki , president of Mitsubishi Partnership Company at the time, expressed his frustration with the situation, noting that the company had been stripped bare, leaving only his ancestral land in Tosa and a mausoleum in Tokyo. His main residence in Shitaya was requisitioned by the American military, and Hisaya had to temporarily rent rooms in his former house. Due to

5200-477: The two countries' governments, had to be included among the 120,000 cars earmarked for Chrysler. A restricting element of Mitsubishi's deal with Chrysler was that Chrysler had the right of first refusal of any Mitsubishi automobiles in the US market until 1990. Toward the end of the 1980s, as MMC initiated a major push to increase its U.S. presence, it aired its first national television advertising campaign and made plans to increase its network to 340 dealers. Despite

5280-570: The vehicle to 80% in 30 minutes. The car is designed to be easy to use. The driver only has to turn the ignition key and a beep announces the start of the car. It drives like a car with automatic transmission. The fuel gauge is replaced by an indicator of battery charge. After the Peugeot iOn was presented at the last Frankfurt Auto Show, the Citroen C-ZERO marks the second part of the partnership between PSA and Mitsubishi to market electric vehicles in Europe. It will be offered to individuals, companies and administrations and local communities. The C-ZERO

5360-444: The war. In 2015, Mitsubishi Materials (formerly Mitsubishi Mining) compensated 3,765 Chinese labourers who were conscripted to the company during the war and apologised to ex-American prisoners of war. Mitsubishi was involved in the opium trade in China during this period. After the Second World War, under the Allied Occupation's policy to dissolve zaibatsu , the Mitsubishi conglomerate underwent significant restructuring. Until

5440-469: The zaibatsu dissolution, Mitsubishi Estate was split into two companies, Kanto Real Estate and Yowa Real Estate. Yowa Real Estate owned a significant portion of the land between the Imperial Palace and Tokyo Station , including the Marunouchi Building . In 1952, an incident occurred where two men, Kuniichiro Fujiami and Shomitsu Tajima, who were closely linked to infamous yakuza , attempted to take over Yowa Real Estate by becoming majority shareholders, as

5520-413: Was beginning to cause friction; Chrysler saw their overseas markets for subcompacts as being directly encroached by their Japanese partners, while MMC felt the Americans were demanding too much say in their corporate decisions. Mitsubishi Motors finally achieved annual production of a million cars in 1980, but by this time, its ally was not so healthy; as part of its battle to avoid bankruptcy , Chrysler

5600-579: Was broken on a 1.9-million-square-foot (177,000 m ) production facility in Normal. In 1987, the company was selling 67,000 cars a year in the U.S., but when the plant was completed in March 1988, it offered an annual capacity of 240,000 vehicles. Initially, three platform-sharing compact 2+2 coupés were released, the Mitsubishi Eclipse , Eagle Talon , and Plymouth Laser , with other models being introduced in subsequent years. In 1986 Mitsubishi reached an agreement with Liuzhou Automotive to assemble their Minicab kei van and truck there, making Mitsubishi

5680-453: Was by now operating in the Philippines , Malaysia , and Thailand . Hirokazu Nakamura became president of Mitsubishi Motors in 1989, and steered the company in some promising directions, with the advent of the Japanese asset price bubble " market correction " that led to the Lost Decade as a result of the Plaza Accord agreement signed in 1985. Sales of the company's new Pajero were bucking conventional wisdom by becoming popular even in

5760-500: Was criticized (particularly by non-Japanese investors) as a possible violation of antitrust law . Since 1993, the Friday Conference has officially been held as a social function, and not for the purpose of discussing or coordinating business strategy. Despite this, the Friday Conference has been a venue for informal cooperation and coordination between the group companies, most notably in bailing out Mitsubishi Motors during

5840-568: Was forced to sell its Australian manufacturing division to MMC that year. The new Japanese owners renamed it Mitsubishi Motors Australia Ltd (MMAL). In 1982, the Mitsubishi brand was introduced to the American market for the first time. The Tredia sedan , and the Cordia and Starion coupés were initially sold through 70 dealers in 22 states, with an allocation of 30,000 vehicles among them. This quota , restricted by mutual agreement between

5920-504: Was launched in 2007 and 2008. Slow-selling vehicles were eliminated from the U.S. market, purchase projections for the Global Engine Manufacturing Alliance have been scaled back, and 10,000 jobs were shed to cut costs with 3,400 workers at its Australian plant and other loss-making operations still under threat. Meanwhile, in an effort to increase production at its U.S. facility, new export markets for

6000-400: Was mostly into related fields. It entered into coal-mining to gain the coal needed for ships, bought a shipbuilding yard from the government to repair the ships it used, founded an iron mill to supply iron to the shipbuilding yard, started a marine insurance business to cater for its shipping business, and so forth. Later, the managerial resources and technological capabilities acquired through

6080-410: Was over 75,000 vehicles annually. Following the successful introduction of the first Galant in 1969 and similar growth with its commercial-vehicle division, the company decided to create a single operation to focus on the automotive industry. Mitsubishi Motors Corporation (MMC) was formed on 22 April 1970, as a wholly owned subsidiary of MHI under the leadership of Tomio Kubo, a successful engineer from

6160-613: Was premiered at the World Exhibition in Brussels in January 2010 and will be launched on the market during the last quarter of 2010, like its sister the Peugeot iOn. Citroën is continuing its development of electric cars, through its commercial vehicle, the Berlingo First Electric, in cooperation with the manufacturer specialist Venturi . It will be sold before next summer. Euro NCAP results available for

6240-541: Was the primary fighter of the Imperial Navy . Production of these equipments made Mistubishi factories one of the main targets for allies attack, and in one factory the death toll among its workers amounted to 494 in just a week. Mitsubishi Mining was involved in the forced labour of Allied prisoners of war and people from Japan's colonies and occupied territories such as Korea and parts of China. The company's Iizuka mine counted 19 deaths of Chinese labourers during

6320-583: Was the sixth-largest Japanese automaker and the 19th-largest worldwide by production. Since October 2016, Mitsubishi has been one-third (34%) owned by Nissan , and included in the Renault–Nissan–Mitsubishi Alliance . Besides being part of the Renault–Nissan–Mitsubishi Alliance, it is also a part of Mitsubishi keiretsu , formerly the biggest industrial group in Japan. The company was originally formed in 1970 from

6400-534: Was triggered by accusations of Mitsubishi Motors trying to systematically hide manufacturing defects to avoid recalls, and marketing problems in the US. After a starvation of new investment caused by lack of cashflow, the company introduced the award-winning Mitsubishi i kei car in 2006, its first new model in 29 months, while a revised Outlander has been introduced worldwide to compete in the popular XUV market niche. The next generation of its Lancer and Lancer Evolution

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