Streetbeat News

MMTOF

Mitsubishi Motors Corporation

https://www.mitsubishi-motors.com/

CEO

Takao Kato

Industry

Automobile Manufacturing

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Volkswagen has exited discussions with Renault on a joint affordable EV project. Renault will continue developing the electric Twingo independently, while Volkswagen plans its own low-cost EV strategy. This development highlights the competitive pressure from Chinese automakers in the European market.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 3:52 pm

Nissan Motor Co Ltd (OTC:NSANY) is considering moving the production of its ultra-compact electric vehicles, currently manufactured by Mitsubishi Motors Corp (OTC:MMTOF), in-house to its Kyushu factory starting April 2028. This strategic shift aims to improve production efficiency, reduce costs, and enhance profit margins in the kei electric vehicle segment, where Nissan lags behind Toyota Motor Corp (NYSE:TM) and Honda Motor Company, Ltd. (NYSE:HMC). The Nissan Sakura, a kei car, was the best-selling passenger EV in Japan in 2023 with a 42% market share.

Portfolio Pulse from Shivani Kumaresan

March 08, 2024 | 4:56 pm

Tesla Inc (NASDAQ:TSLA) saw the largest increase in new vehicle registrations in the EU in October, with a 148% jump from the previous year. Other automakers also experienced growth, but Ford Motor Co (NYSE:F) and Mitsubishi Motors Corp (OTCPK: MMTOF) saw declines. Volkswagen AG (OTCPK: VWAGY) remains the top brand, followed by Stellantis NV (NYSE:STLA). The EU car market is growing, with a rise in EV registrations, although gas remains the most popular fuel.

Portfolio Pulse from Anan Ashraf

November 21, 2023 | 8:48 am

Renault SA has reduced its stake in Nissan Motor Co., Ltd. from 43.4% to 15%, transferring the remaining 28.4% shares into a French trust. Renault and Nissan now have a cross-shareholding of 15% with lock-up and standstill obligations. Renault continues to benefit from the economic rights from the entrusted Nissan shares until they are sold. Mitsubishi Motors is also a member of the Alliance with Renault and Nissan Motor. The alliance will continue to identify key projects across markets.

Portfolio Pulse from Nabaparna Bhattacharya

November 08, 2023 | 12:27 pm

The top-selling electric vehicle (EV) in Japan is the Sakura, a kei car co-developed by Nissan Motor Co. (OTC:NSANY) and Mitsubishi Motors Corp. (OTC:MMTOF). The Sakura and its Mitsubishi counterpart, the eK X, account for nearly half of all EV sales in Japan this year. Despite the overall subdued EV market in Japan, these models have found favor with consumers for their affordability and practicality. However, success in Japan doesn’t translate into overseas sales due to stricter collision standards and regulations in other countries.

Portfolio Pulse from Benzinga Neuro

October 25, 2023 | 9:36 am

Mitsubishi Motors plans to invest up to €200 million in Renault's EV unit Ampere. This investment is part of Mitsubishi's mid-term management plan focusing on electric vehicle development. The company is also intensifying collaboration with Alliance members Renault and Nissan as part of their commitment to the electrification acceleration phase. Mitsubishi Motors aims to improve its EV development technology and expand its EV line-up through this initiative.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 12:43 pm

Mitsubishi Motors has decided to cease automobile production in China due to rising EV popularity and strong local brands. The company has started final withdrawal talks with China's Guangzhou Automobile Group (GAC), with which Mitsubishi has a joint venture. GAC Mitsubishi Motors owns a manufacturing plant in Hunan province, which ceased production in March. GAC plans to convert the Hunan plant for EV manufacturing. Mitsubishi Motors and Mitsubishi Corp. are pulling their investments.

Portfolio Pulse from Akanksha Bakshi

September 27, 2023 | 12:06 pm

Renault (OTC:RNLSY) Chairman expressed concerns about Europe's over-reliance on China for EV supply chain, following China's decision to restrict metal exports. In the US, Worksport Ltd (NASDAQ:WKSP) announced significant progress at its US facility, aiming to deliver its Solis solar-powered tonneau cover and COR remote power storage system. Tesla Inc (NASDAQ:TSLA) stated that the US could go all-electric by the end of the decade. Toyota Motor (NYSE:TM) and Stellantis (NYSE:STLA) believe the EPA's expectations for EV market growth are overly optimistic. General Motors (NYSE:GM) aims to surpass Tesla in EV sales in the US.

Portfolio Pulse from Upwallstreet

July 14, 2023 | 2:13 pm

Mitsubishi Motors Corp's joint venture with China-based Guangzhou Automobile Group Co., Ltd. is planning to cut staff costs due to sharp sales declines for sport utility vehicles. The number of employees affected has not been disclosed. The restructuring will follow Chinese laws and regulations.

Portfolio Pulse from Nabaparna Bhattacharya

July 13, 2023 | 12:46 pm

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