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TEHRAN, October 18 - Mitsubishi Motors Corp (7211.T) on Wednesday said it planned to boost revenue and annual car sales by 30 percent in the next three years and crank up R&D.
TEHRAN, Young Journalists Club (YJC) - Mitsubishi Motors Corp (7211.T) on Wednesday said it planned to boost revenue and annual car sales by 30 percent in the next three years and crank up R&D investment as the Japanese automaker expands its presence in Asia, the U.S. and China while it draws a line under last year’s mileage cheating scandal.
Announcing its mid-term strategic plan through the end of the 2019 financial year, Japan’s seventh-largest automaker also said it would increase its operating margin to 6 percent or more.
It is also targeting cost savings of more than 100 billion yen ($891.11 million) over the next three years due to development and procurement efficiencies to be created after it became a member of the automaking alliance of Nissan Motor Co Ltd (7201.T) and Renault SA (RENA.PA).
Nissan last year took a controlling stake in Mitsubishi Motors after the smaller automaker admitted it had overstated the fuel economy of some of its domestic models.
Source:Reuters
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