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Mitsubishi Motors sees green vehicles profitable in 2 years
July 20, 2011 / 7:57 PM / in 6 years

Mitsubishi Motors sees green vehicles profitable in 2 years

BANGALORE (Reuters) - Mitsubishi Motors Corp’s electric vehicles and other eco-friendly offerings are expected to start contributing to its earnings in two years, the Nikkei business daily reported.

Mitsubishi Motors Executive Vice President Hiizu Ichikawa said the automaker expects to surpass the break-even level of 60,000 to 70,000 units sold annually by the fiscal year ending in March 2014, the daily said.

Sales of green vehicles are projected at 25,000 units this year, the paper said, adding that Mitsubishi Motors plans to release a plug-in hybrid in the second half of next fiscal year. The automaker plans to boost global sales by 24 percent from the 2010 level to 1.37 million cars in fiscal 2013, and more than double its consolidated operating profit to 90 billion yen over the same period, the Nikkei said.

Ichikawa said the company plans to resume dividend payouts by fiscal 2013, the paper reported.

Reporting by Chris Jonathan Peters in Bangalore; Editing by Viraj Nair

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