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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Mitsubishi Motors Corporation    7211   JP3899800001

MITSUBISHI MOTORS CORPORATION

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Mitsubishi Motors : New ECLIPSE CROSS Reveals Radical New Styling and Expands Plug-In Hybrid Option

10/16/2020 | 11:48am EST

Tokyo- MITSUBISHI MOTORS CORPORATION (MMC) today revealed the restyled ECLIPSE CROSS with a sleek sporty SUV appearance, driving confidence and improved comfort. Also, the model will add a plug-in hybrid (PHEV) powertrain in select markets to fulfil the diversifying needs of customers who are looking for a more sustainable alternative.

ECLIPSE CROSS gasoline models (Australian specification)

The new ECLIPSE CROSS gasoline model will first launch in Australia and New Zealand in November, with the PHEV variant available in 2021. Both the gasoline and PHEV variants start pre-orders today in Japan, and will be available later this year. In North America, the gasoline model will debut in the first quarter of 2021; there are no plans at this time to add the PHEV model for that market.

'From the day we started to rethink the new ECLIPSE CROSS, we wanted to address an attitude of boosted road performance and eco-friendliness, all with a stand-out style that will take this SUV to the next level,' said Minoru Uehara, chief product specialist of MMC, who is responsible for leading and facilitating the creation of the new ECLIPSE CROSS. 'Besides the contemporary exterior and comfortable and smart interior, MITSUBISHI MOTORS' legendary Super All Wheel Control (S-AWC) system ensures that drivers are always in control for their next adventure.'

Refreshed Design Inside Out

The redesigned ECLIPSE CROSS features significant styling enhancements, producing a sleek sporty SUV appearance. Never before has a Mitsubishi vehicle been so design-forward, as ECLIPSE CROSS brings sophistication to the next level. The result is a vehicle that looks sleek, stable, upscale and unique.

The front end adopts an evolved version of Mitsubishi's signature Dynamic Shield design concept, expressing strength and security. A new front bumper guard and refreshed light layout completes the front design with a bold, dynamic look.

The sleek silhouette continues to the rear with a redesigned hatch and rear window, giving a more sophisticated SUV styling and resulting in improved rear visibility as well as distinctive and contemporary styling. ECLIPSE CROSS' iconic three-dimensional taillights extend upwards and inwards, and enhance the look with a stable and wide presence. The new tailgate features a sharply sculpted hexagon design reminiscent of the company's iconic rear-mounted spare tire shape, blending the sleek and elegant style with the ruggedness and dependability expectations of an SUV.

ECLIPSE CROSS gasoline model

(Australian specification)

ECLIPSE CROSS PHEV

with light gray leather seats

(Japanese specification)

Inside the cabin, a new black interior with silver accents and light gray1 leather seats creates a more sophisticated look. Door trims also coordinate with the car seat color to feature a high-quality, sporty interior space. ECLIPSE CROSS' interior has always been an exciting and comfortable place to spend time, and the new changes move it to a more enjoyable and upscale level.

A new 8-inch smartphone-link display audio (SDA) system comes standard, giving the driver a better view of the information and easier operation. The screen has been moved closer to the driver and front-seat passenger for ease of use, and now incorporates volume and turning knobs for fast reference. The touchpad that was previously used for multiple functions has been removed to allow for more storage space on the center console.

Engineered For Eco-Friendly and Dynamic Performance

The newest addition of the PHEV powertrain optimizes energy efficiency and offers a smooth driving experience. Riding on the success of the OUTLANDER PHEV, the world's best-selling plug-in hybrid vehicle2, the new ECLIPSE CROSS uses the same twin-motor 4WD PHEV system with modifications specific to the size and weight of the ECLIPSE CROSS chassis. The unique PHEV architecture consists of one front and one rear high-power electric motor, a large-capacity drive battery and a 2.4-liter MIVEC engine with a single-speed planetary gearbox, allowing for the quick, silent, yet powerful acceleration unique to electric vehicles.

ECLIPSE CROSS PHEV (Japanese specification)

For the PHEV variant, the system automatically selects from three driving modes to suit various conditions: EV, Series Hybrid or Parallel Hybrid. The traction battery can also be used as a reliable source of electricity for outdoor leisure or in an emergency as it supplies up to 1,500 watts of power from an on-board outlet. When the vehicle is fully charged and fueled, it can supply power to a general household for up to 10 days3 via the Vehicle-to-Home system.

Carried over from the previous model, the ECLIPSE CROSS is also available with the company's 1.5-liter MIVEC direct injection turbocharged four-cylinder engine. A thoroughly modern design, the MIVEC engine is all-aluminum for light weight, and perfectly balances the seemingly distinct priorities of power and efficiency.

Using a compact turbocharger reduces fuel consumption but also minimizes turbo lag for driver-centric feel and performance, while the combination of direct fuel injection and turbocharging delivers greater efficiency at all roads and engine speeds. Paired with an eight-speed sports mode continuously variable transmission (CVT), the new ECLIPSE CROSS optimizes driving dynamics while also achieving low fuel consumption.

Confidence-Inspiring Driving Pleasure

MITSUBISHI MOTORS' S-AWC system delivers stable handling and precise control, giving drivers confidence to conquer on-road conditions with ease. The springs in the front MacPherson strut and rear multi-link suspension have been finely tuned. Together with enlarged rear suspension absorbers, the ECLIPSE CROSS exerts the performance of S-AWC and greatly enhances maneuverability.

Combining SUV versatility with bold, distinctive design, the ECLIPSE CROSS has won multiple global awards, including the Good Design Award in 2018 and the RJC Car of the Year in 2019.

1.	Vehicle specifications may vary depending on model and/or country.
2.	Source: MITSUBISHI MOTORS' internal sales data from January 2013 to March 2020
3.	The amount of power is based on MITSUBISHI MOTORS' internal calculation, assuming that the amount of power used per day in a general household is approximately 10kWh per day, and does not include the conversion efficiency of V2H equipment and similar device.

About MITSUBISHI MOTORS

MITSUBISHI MOTORS CORPORATION is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles.

Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in MITSUBISHI MOTORS' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, MITSUBISHI MOTORS introduced its new brand strategy in 2017, expressed in its 'Drive your Ambition' tagline - a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today MITSUBISHI MOTORS is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 502 B 14 416 M 14 416 M
Net income 2021 -292 642 M -2 808 M -2 808 M
Net Debt 2021 211 B 2 027 M 2 027 M
P/E ratio 2021 -0,94x
Yield 2021 -
Capitalization 280 B 2 690 M 2 685 M
EV / Sales 2021 0,33x
EV / Sales 2022 0,20x
Nbr of Employees 32 171
Free-Float 44,3%
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Mean consensus HOLD
Number of Analysts 14
Average target price 230,86 JPY
Last Close Price 188,00 JPY
Spread / Highest target 86,2%
Spread / Average Target 22,8%
Spread / Lowest Target -30,9%
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Managers
NameTitle
Takao Kato Chief Executive Officer & Director
Osamu Masuko Chairman & Representative Executive Officer
Koji Ikeya CFO, Executive VP, Head-Finance & Accounting
Masao Kuruma Chief Information Officer & Executive Officer
Shunichi Miyanaga Outside Director
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