Mitsubishi plans 8 eco-friendly cars by 2015-16

TOKYO (DPA) ― Mitsubishi Motors Corp. plans to launch eight models of electric cars and plug-in hybrids by the financial year that ends in March 2016, the Japanese carmaker said Thursday.

The strategy includes the introduction of hybrid vehicles in the 2013-14 financial year, said Mitsubishi, which produces an electric hatchback but has yet to introduce hybrid models.

It plans to also expand its lineup by introducing vehicles such as compact, fuel-efficient cars and sports utility vehicles to boost sales in emerging markets.

Mitsubishi said it would build a third factory in Thailand, making it Mitsubishi’s second-largest export hub after Japan. In China, the carmaker plans to expand its capacity by reinforcing a joint venture with a local partner, it said.

The carmaker also said it aims to double its consolidated operating profit to 90 billion yen ($1.1 billion) in the 2013-14 financial year from a forecast profit of 45 billion yen in the current financial year ending in March.

Mitsubishi also said it aims to sell 1.37 million vehicles and boost group sales to 2.5 trillion yen in the 2013-14 financial year from a projected 1.9 trillion yen this fiscal year.