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

MITSUBISHI MOTORS CORPORATION

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Mitsubishi Motors : Team Record the Journey and Mitsubishi Outlander PHEV make history with electrifying podium finish in 2020 Rebelle Rally

10/20/2020 | 10:11am EST

Highlights:

* Outlander PHEV becomes the first plug-in hybrid electric vehicle ever to complete the rugged 10-day, 2,000 km off-highway navigational event

* Nonprofit-based team of U.S. Army combat veterans Rachael Ridenour and Kristie Levy maintain tradition of 'Small Batch - Big Impact' CSR initiative

FRANKLIN, Tenn. - Mitsubishi Motors North America, Inc. (MMNA) and Team Record the Journey (RTJ) made history for the second year in a row at the 2020 Rebelle Rally.

After powering the event's first adaptive athlete to second place in 2019, MMNA and RTJ this year combined to claim another podium finish, this time in the Rebelle's first ever plug-in hybrid electric vehicle entry, a 2020 Mitsubishi Outlander PHEV.

RTJ founder and navigator Sergeant Major Rachael Ridenour (Ret.) was joined by teammate and driver, Master Sergeant Kristie Levy (Ret.) - both U.S. Army veterans with multiple combat deployments - to compete in this year's Rebelle. Their Outlander PHEV, affectionately nicknamed 'Electra,' was put through her paces over 10 grueling days and more than 2,000 kilometers across the Nevada and California deserts, accumulating 1,034 points in the X-Cross class of the all-women's navigational challenge.

'Electra served faithfully and reliably, impressing us with her versatility, capability and grit, not to mention her ability to travel on smooth, quiet electric power,' said Ridenour, a multi-time Rebelle and past event winner. 'Just completing the Rebelle is an accomplishment, and doing it in an electrified vehicle was a bit of an experiment, but the Outlander PHEV proved more than up to the task. She was a reliable partner in extreme circumstances - and being able to make coffee using the 110-volt outlet in the back was a luxurious taste of civilization in the middle of the desert.'

The Rebelle Rally is the first all-women's off-highway navigational rally raid in the U.S. and the longest competition of its kind in the lower 48 states. For the first time, in 2020, event organizer Emily Miller opened the competition to electric vehicles, adding an Electrified designation to both the 4x4 class and X-Cross, to honor the highest finishing Battery Electric Vehicle (BEV) and Hybrid or Plug-in-hybrid Electric Vehicle (PHEV) in each class.

'We've had two very successful years of partnership between Mitsubishi Motors and Record the Journey at the Rebelle Rally, and we couldn't be more proud of the outcome,' said MMNA Chief Operating Officer Mark Chaffin. 'Together, we've tested the capability of our vehicles and raised awareness of the life-changing work that RTJ does every day. It is a true honor to help promote and support our returning servicewomen and men.'

'This year's Rebelle was filled with an inspiring crew of fierce, independent women who continue to amaze us with their strength, fortitude and endurance to complete one of the toughest rally raids in the world,' said Miller, Founder of the Rebelle Rally. 'We are so happy for Team Record the Journey and their Outlander PHEV for earning a podium finish in the first year of electrified competition, and look forward to another amazing performance in 2021.'

RTJ is dedicated to assisting military veterans with a successful transition back into civilian life. The nonprofit utilizes outdoor photography adventures to help veterans process their military experiences, including combat, injury and loss. Photography allows expression and engagement without words, making an often difficult process a little easier. RTJ was the first nonprofit to receive a loan of a Community Utility Vehicle through MMNA's 'Small Batch - Big Impact' corporate social responsibility initiative. For more information on the Small Batch - Big Impact initiative and MMNA's CUV program, visit www.mitsubishicars.com/community.

Additional partners supporting Team Record the Journey for 2020 include Ally Financial, BFGoodrich Tires, DMOS Shovels, Off-Road Like a Girl, Productive Flourishing, Road Race Engineering and Vision Wheel.

About Mitsubishi Motors North America, Inc.

Through a network of approximately 350 dealer partners across the United States, Mitsubishi Motors North America, Inc., (MMNA) is responsible for the sales, research and development, marketing and customer service of Mitsubishi Motors vehicles in the U.S. 2019 marked the brand's seventh consecutive year of sales growth, and MMNA was the top-ranked Japanese brand in the J.D. Power 2020 Initial Quality study, ranking sixth overall and experiencing the greatest year-over-year improvement of any brand.

Located in Franklin, Tennessee, MMNA is a part of the Renault-Nissan-Mitsubishi Alliance. Mitsubishi continues to lead the way in the development of highly efficient, affordably priced new gasoline-powered automobiles, while using its industry-leading knowledge in battery-electric vehicles to develop future EV and PHEV models.

For more information on Mitsubishi vehicles, please contact the Mitsubishi Motors News Bureau at (615) 257-2698 or visit media.mitsubishicars.com.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 502 B 14 425 M 14 425 M
Net income 2021 -292 642 M -2 810 M -2 810 M
Net Debt 2021 211 B 2 028 M 2 028 M
P/E ratio 2021 -0,94x
Yield 2021 -
Capitalization 280 B 2 690 M 2 687 M
EV / Sales 2021 0,33x
EV / Sales 2022 0,20x
Nbr of Employees 32 171
Free-Float 44,3%
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Average target price 230,86 JPY
Last Close Price 188,00 JPY
Spread / Highest target 86,2%
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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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