Published on March 13th, 2023 | by Sounder Rajen0
Mitsubishi Motors Announces Mid-Term Business Plan, Challenge 2025
This will help Mitsubishi to further its growth over the next generation
Mitsubishi Motors Corporation (Mitsubishi) has just announced its new three-year mid-term business plan for fiscal year 2023 to 2025, which the brand calls Challenge 2025, to further the brand’s growth and the next generation, so expect to see many improvements from the brand from here on out.
The plan is built on the basis of the lean and agile business structure that is a result of structural reforms enacted by Mitsubishi so far. Challenge 2025 is meant to establish a stable revenue base through selection and concentration in the brand’s regional strategy and the continuation of company-wide revenue improvement activities.
Moreover, the Mitsubishi Challenge 2025 plan will also be put in place to help the brand achieve sustainable growth through higher and stable spending on R&D and CAPEX, which will include increased expenditure on electrification, IT and new business as a proportion of total expenditure.
This comprehensive plan also covers Mitsubishi vehicles and to that end, the brand will will continue to work on electrification as a solution to the global-level issue of climate change and to help achieve carbon neutrality as other carmakers are also doing so we will still be seeing new electric vehicles (EVs) for the brand.
On top of that, the company’s plan will see it accelerate its selection and concentration so far to clarify the role of each region, before distributing management resources accordingly. In terms of business, in addition to value chain expansion, Mitsubishi will also create new business to increase future sources of revenue.
What’s more, through the Challenge 2025 plan, Mitsubishi will also focus on building long-term relationships of trust with customers through products and technology encapsulating the brand’s principles and further promote its brand value. This will help the world become more familiar with Mitsubishi and what it stands for.
So in short, as well as all the other aims mentioned earlier, the Challenge 2025 plan from Mitsubishi will also see the brand Invest a total of 210 billion yen by 2030 to procure 15GWh of battery procurement as well as further bolster linking with Alliance for mutually complementary OEM products and more.
The main overarching goal with the Mitsubishi Challenge 2025 plan is to reduce emissions of greenhouse gases in order to help achieve carbon neutrality as this is a key issue that all carmakers seem to be fully focusing on at the moment. Whether their intentions are noble to care for the environment is up to you though.
For now, all I know is that the environment is already damaged beyond repair and focusing on sustainable goals will prevent it from getting even more permanently damaged. So for carmakers like Mitsubishi to prioritize the environment is great because if we can’t reverse the damage done, we can at least not make it worse.