Mitsubishi Motors Stock

Mitsubishi Motors Corporation, together with its subsidiaries, engages in the development, production, and sale of passenger vehicles and automotive components worldwide. The company primarily manufactures and sells passenger cars and other transportation equipment. It also offers various financial services, including sales-finance products.

SEGMENTS

The company operates its business in two business segments: Automobiles and Financial Services.

Automobiles

The company offers mini cars, sports utility vehicles, standard sized vehicles, trucks, luxury, and compacts. It launched a total of six new models on schedule during 2005: Eclipse in the United States; Triton (L200) one-ton pickup truck in Thailand; 380 sporty sedan in Australia; Zinger MPV in Taiwan; and, in Japan, the Outlander SUV and i minicar. Regional model releases in 2006 include the new Eclipse Spyder (U.S.), the Colt CZC cabriolet (Europe), and the new eK Wagon and Delica (Japan). In June 2006, the company announced a joint development project with Mitsubishi Heavy Industries, Ltd. (MHI) to create 2-liter class diesel engines.

Financial Services

The company’s auto leasing, sales financing and related operations are operated through Mitsubishi Auto Credit-Lease Corporation (MCL) and U.S.-based Mitsubishi Motors Credit of America, Inc. (MMCA). MMC holds an equity interest in MCL, a domestic equity method affiliate. In March 2006, Mitsubishi Corporation, Diamond Lease Co., Ltd. and MMC reached a basic agreement concerning the strategic reorganization of MCL’s automotive finance operations. The company shifted its U.S. financial services operations to a joint venture business between MMCA and Merrill Lynch & Co. in July 2005.

Markets

The company operates in North America, primarily in the United States, Puerto Rico; in Europe primarily in The Netherlands, Italy, Germany; in Asia, primarily in Thailand, Malaysia, Taiwan; and in other markets, including Australia, New Zealand, and U.A.E.

Strategic Alliances

The company has strategic alliances with Nissan Motors Co., Ltd. and PSA Peugeot Citroen.

On December 12, 2007, GS Yuasa Corporation, Mitsubishi Corp., and Mitsubishi Motors Corp. announced that they have set up a joint venture to develop, make and sell lithium-ion batteries for use in electric cars and for other applications. The new company, Lithium Energy Japan, is owned 51% by Gs Yuasa Power Supply Ltd., a wholly owned unit of GS Yuasa, 34% by Mitsubishi Corp. and 15% by Mitsubishi Motors.

In December 2007, Mitsubishi Corp. and Mitsubishi Motors Corp. have created a joint venture with GS Yuasa Corporation to accelerate the development and production of lithium-ion batteries.

Nissan Motor Co. Ltd., Mitsubishi Motors Corp., Fuji Heavy Industries Ltd. and Tokyo Electric Power Co. Inc. have joined to promote development of charging stations that allow electric vehicle batteries to be recharged quickly.

Significant Events

In March 2008, Mitsubishi Motors Corp. has released the 2008 versions of Pajeroon in China.

The company and PSA Peugeot Citroen (France) have reached an agreement to build a car assembly plant together in the Kaluga region, southwest of Moscow.

On September 4, 2009, Mitsubishi Motors Corp. and PSA Peugeot Citroen signed a basic agreement to tie up on the development and supply of electric vehicles. Under the agreement, the two firms would develop an electric vehicle based on Mitsubishi's i-MiEV model for sale in Europe under the Peugeot and Citroen brands.

On October 6, 2009, Mitsubishi Motors Corp. and KAMAZ Inc. have signed an agreement to set up a joint venture to produce small trucks. The assembly of Canter trucks would be carried out in Russia.

History

Mitsubishi Motors Corporation was founded in 1970.