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    7211   JP3899800001

MITSUBISHI MOTORS CORPORATION

(7211)
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Delayed Japan Exchange  -  10:30 2022-10-06 pm EDT
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Mitsubishi Motors Launches the New Xpander Cross in Indonesia- A Crossover MPV with More Robust Design and Improved Driving Performance -

08/12/2022 | 11:07am EDT

Tokyo - Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) launched the new Xpander Cross, a crossover MPV, with a revamped, more robust design and improved driving performance at the 29th GAIKINDO Indonesia International Auto Show and started sales on August 11. The new Xpander Cross will be built at Mitsubishi Motors Krama Yudha Indonesia (Bekasi, West Java)1 and will be rolled out sequentially to other markets centering on the ASEAN region.

New Xpander Cross

The Xpander Cross is the top variant of the Xpander lineup and features solid SUV styling along with high driving performance and ride comfort. Since the launch in Indonesia in 2019, its sales markets have expanded to include ASEAN, the Middle East, Latin America, South Asia and Africa. Together with the standard Xpander launched in 2017, cumulative sales of the series totaled more than 470,000 units as of the end of July 2022, including more than 110,000 units in fiscal year 20212, making it Mitsubishi Motors' third best-selling model.

The new Xpander Cross features a refreshed front and rear design to further emphasize the robust SUV styling, as well as enhanced ride comfort and secure ride delivered by features including Active Yaw Control (AYC), which improves cornering performance by adjusting the braking force on the front wheels.

'Launched last year, the refreshed Xpander has been expanding into global markets and has been well received by many customers, with this fiscal year's sales figures exceeding those of the same period last year3,' said Takao Kato, president and chief executive officer, Mitsubishi Motors. 'Now endowed with more robustness of an SUV than ever, the new Xpander Cross is a crossover MPV with Mitsubishi Motors-ness, and we are confident that it will be as successful as the new Xpander. With the evolved Xpander series, we aim to further strengthen our presence in the ASEAN region, as well as contributing to Indonesia's economic growth through local production.'

Product overview4

Exterior with even more robustness of an SUV

Interior space with enhanced high-quality feel and operability

Secure, comfortable ride improved with features including AYC

Exterior with even more robustness of an SUV

At the front, the Dynamic Shield front face has evolved, combining a large grille with a trapezoid motif and a guard-bar shaped bumper to give the new Xpander Cross a robust SUV look. The headlights feature a distinctive T-shape design that emphasizes a sense of width, while the turn signals, which were previously placed under the headlight unit, have been integrated into the upper position lights to improve visibility to other drivers. The front and rear overhangs have been extended by a total of 95 mm, and the engine hood has been made thicker to create proportions with more dynamism and stability.

The 17-inch round-rim alloy wheels feature a machine-finished two-tone design in medium gray. Coordinated with the gray paint on the front and rear skid plates and door garnishes, the wheels create a three-dimensional look to express the sporty and powerful feeling of an SUV. In addition, the roof rails are colored in black to sharpen the overall appearance.

In the rear, the tailgate has been given a more three-dimensional design, and the number of split lines has been reduced for an enhanced sense of quality. The rear combination lights have a wide, stable look with horizontally-themed T-shaped tail lights, while LED stop lights are added to the LED tail lights and back lights to improve visibility at night.

A new body color, Green Bronze Metallic, which combines toughness with a modern sense of refinement, has been added to the lineup. Other available colors include Quartz White Pearl, Blade Silver Metallic, Graphite Gray Metallic and Jet Black Mica.

Interior space with enhanced high-quality feel and operability

The interior features a horizontally-oriented instrument panel based on the Horizontal Axis concept, emphasizing the spaciousness of the cabin and making it easier to perceive changes in vehicle position while driving, as well as a new large-diameter four-spoke steering wheel that evokes a sense of luxury.

To offer an advanced cabin, the Xpander Cross adopts an 8-inch color liquid crystal display (LCD) meter that is more intuitive and easier to use. By operating a switch located on the spokes of the steering wheel, driving information such as average and current fuel economy, as well as vehicle information such as AYC operation status, can be viewed on the meter, allowing easy access to information necessary for driving.

Secure, comfortable ride improved with features including AYC

The new Xpander Cross adopts Mitsubishi Motors' AYC, which improves cornering performance by adjusting the braking force on the front wheels. Information such as steering angle, yaw rate, lateral and longitudinal G-forces, brake pressure, and wheel speed is used to accurately assess driver operation and vehicle behavior, and brake control is applied to perform torque vectoring between the front wheels, ensuring that the vehicle responds as the driver intends. When cornering on slippery road surfaces, AYC, which brakes the front wheel on the inside of the turn, minimizes understeer and allows the vehicle to follow a line closer to that intended by the driver. In cooperation with the Anti-lock Braking System (ABS) and Active Stability Control (ASC), the system supports safe, secure and comfortable driving in a variety of weather and road conditions.

By improving the rigidity of the front strut mounting area, enlarging the cylinder size of the rear shock absorber, and using new high-performance valves in both the front and rear, the suspension provides a flat and comfortable ride even on rough road surfaces.

1. Share owned: Mitsubishi Motors 51.0%, Mitsubishi Corporation 40.0%, Krama Yudha 9.0%

2. Fiscal 2021 is from April 2021 to March 2022.

3. Approximately 40,000 units as of the end of July 2022. This figure represents cumulative sales of the Xpander and Xpander Cross from April to July 2022. Sales figures for the Xpander include models before the update.

4. Indonesia specifications. Vehicle specifications and features may vary depending on model and/or market.

About Mitsubishi Motors

Mitsubishi Motors Corporation (TSE:7211) -a member of the Alliance with Renault and Nissan-, is a global automobile company based in Tokyo, Japan, which has about 30,000 employees and a global footprint with production facilities in Japan, Thailand, Indonesia, mainland China, the Philippines, Viet Nam and Russia. Mitsubishi Motors has a competitive edge in SUVs, pickup trucks and plug-in hybrid electric vehicles, and appeals to ambitious drivers willing to challenge convention and embrace innovation. Since the production of our first vehicle more than a century ago, Mitsubishi Motors has been a leader in electrification-launched the i-MiEV -the world's first mass-produced electric vehicle in 2009, followed by the Outlander PHEV -the world's first plug-in hybrid electric SUV in 2013. The company announced a three-year business plan in July 2020 to introduce more competitive and cutting-edge models, including the Eclipse Cross (PHEV model), the all-new Outlander and the all-new Triton/L200.

For more information on Mitsubishi Motors, please visit the company's website at

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

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
MITSUBISHI CORPORATION -1.14% 4231 Delayed Quote.16.18%
MITSUBISHI MOTORS CORPORATION -1.72% 513 Delayed Quote.65.42%
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Financials
Sales 2023 2 398 B 16 567 M 16 567 M
Net income 2023 111 B 764 M 764 M
Net cash 2023 234 B 1 619 M 1 619 M
P/E ratio 2023 7,02x
Yield 2023 1,00%
Capitalization 777 B 5 366 M 5 366 M
EV / Sales 2023 0,23x
EV / Sales 2024 0,20x
Nbr of Employees 28 796
Free-Float 42,9%
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Number of Analysts 14
Last Close Price 522,00 JPY
Average target price 512,86 JPY
Spread / Average Target -1,75%
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Managers and Directors
Takao Kato President, Chief Executive Officer & Director
Koji Ikeya CFO, Executive VP, Head-Finance & Accounting
Tomofumi Hiraku Chairman
Masao Kuruma Chief Information Officer & Executive Officer
Yosuke Wakabayashi GM-Administration & Head-Domestic Sales
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