Mitsubishi Gets $5.3 Billion Budget for New R&D

Now that the dust has settled on Renault Nissan’s acquisition of Mitsubishi, our favorite electric hill climb people are- finally!- able to start making plans for their future. Big plans, too, it seems- because Mitsubishi will be spending more than 5 billion USD to develop new product lines over the next three years!

Despite a dramatically shrinking market share and factory closings in the US, we’re big fans of the little company that could here at Gas 2. The Mirage is more fun than it should be, and Mitsubishi’s PHEV Outlander has gotten a ton of virtual ink on these “pages”. It’s also won awards, even- and sold well beyond expectations. With this fresh injection of cash, Mitsubishi might be able to make good on its promise of bringing the PHEV Outlander to North America soon eventually.

The expansion of Mitsubishi’s PHEV offerings is just one aspect of the new merger. As we reported when news first broke, the Renault Nissan Mitsubishi Alliance’s objectives include the doubling of annual synergies to more than 10 billion Euros, with more than nine million vehicles to sharing four common platforms. Mitsubishi will be able to benefit from those economies of scale and, it’s hoped, launch the kind of vehicular renaissance that’s going to be needed to bring it back from the brink.

They’ll have $5 billion to try, anyway.

What do you guys think? Is this kind of investment a smart move for Renault Nissan, or is this money down the drain for a dying brand? Let us know how you think it will go in the comments section, below. See? Rhyming’s not hard.

 

Source | Images: Renault Nissan, via Paul Tan.

 

Jo Borrás

I've been in the auto industry 1997, and write for a number of blogs in the IM network. You can also find me on Twitter, at my Volvo fansite, or chasing my kids around Oak Park, IL.