BANGKOK – March 21, 2023: Mitsubishi Motors Corporation (hereafter, Mitsubishi Motors) displays the Mitsubishi XRT Concept – a concept car of the all-new Triton1 pickup truck planned for launch in fiscal year 20232 at the 44th Bangkok International Motor Show 20233, from March 21 to April 2, 2023.
The Triton is Mitsubishi Motors’ top-selling model manufactured at the Laemchabang Factory in Thailand and the company’s global strategic vehicle exported to about 150 countries around the world. With its first full redesign in approximately nine years, the all-new Triton will be the sixth generation of the brand’s midsize pickup truck. After the launch in Thailand in fiscal 2023, it will be released sequentially in the ASEAN region, Oceania and other global markets.
A concept car of the all-new Triton, the Mitsubishi XRT Concept is characterized by a fierce expression on the front and a robust hood that continues to the side with bold, horizontally-themed styling. Further, the concept car is fitted with front and rear over fenders as well as mud-terrain tires, giving it the powerful drive to compete in grueling rallies and the dynamism to dash across the terrain. The body features a camouflage design inspired by lava rocks packed with condensed energy, and the sides have been adorned with a graphic of the 10-parallel line Ralliart brand icon that expresses Mitsubishi Motors’ passion for driving.
At the Asia Cross Country Rally 20234, Team Mitsubishi Ralliart, which receives technical support from Mitsubishi Motors, plans to compete with a prototype cross-country model of the all-new Triton (Group T1 specifications) in its quest for a second straight victory. Hiroshi Masuoka, a two-time Dakar Rally champion driver in 2002 and 2003, will stay on as team director, and Mitsubishi Motors engineers will perform pre-testing and accompany the team to provide support at the rally. Mitsubishi Motors uses expertise gained from rallies as feedback in the development of its production vehicles, as it seeks to create vehicles with Mitsubishi Motors-ness, which deliver safe, comfortable driving enjoyment in any weather or road conditions.
”Fiscal 2023 is an important year for Mitsubishi Motors to accelerate our business in the ASEAN region, with the launch of a fully revamped Triton and an all-new compact SUV,” said Takao Kato, President and Chief Executive Officer, Mitsubishi Motors. “The all-new Triton is going through final touch-ups in preparation for its release, as we have performed rigorous endurance tests around the world while also incorporating the know-how gained from rally activities. With the new vehicle launches as the centerpiece, we will continue our drive toward further growth. Please look forward to the future of Mitsubishi Motors.”
Recently, Mitsubishi Motors has announced its three-year mid-term business plan (fiscal 2023 to 2025), Challenge 2025, to take on the challenge of further growth and the next generation.
In terms of products, Mitsubishi Motors will continue to work on electrification as a solution to the global-level issue of climate change and to help achieve carbon neutrality. In terms of business, as well as working on value chain expansion, Mitsubishi Motors will take on the challenge of new business to create new future sources of revenue. Furthermore, the company will build long-term relationships of trust with customers through products and technology encapsulating Mitsubishi Motors-ness, and promote our brand value.
The main initiatives of the “Challenge 2025” plan are as follows:
- Aim for a sales volume in the 1.1 million vehicle and operating profit of 220 billion yen (OP margin 7%)
- Concentrate management resources in ASEAN / Oceania, and increase sales volume, market share, and revenue.
- In the next five years roll out 16 models (including nine xEVs)
- Increase the investment by around 30% over the six years to 2028 compared with the past six years in R&D expenses and CAPEX
(Allocation of investment on electrification, IT and new business is expected to reach around 70% from FY2026 onward) - Reduce emissions of greenhouse gases in order to help achieve carbon neutrality
- Invest a total of 210 billion yen by 2030 to procure 15GWh of battery procurement
- Further bolster linking with Alliance (mutually complementary OEM products, etc.)
- Take on the challenge of new business using assets unique to an automobile manufacturer (energy management, battery reuse, data sales, etc.)
