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Mitsubishi Pajero successor still years away, but plug-in hybrid tech likely

You might not know it from looking at today's Mitsubishi showrooms, but the struggling Japanese automaker has a pretty enviable reputation for producing robust off-roaders. Its Pajero SUV built a solid reputation worldwide on the back of its durability in harsh climates, earning it consideration alongside the likes of venerable explorers like the Toyota Land Cruiser and Land Rover Range Rover. Unfortunately, the Pajero eventually succumbed to one particularly harsh climate - the North American truck market. After enjoying a long run, Mitsubishi finally pulled the plug on the SUV's Montero twin after the 2006 model year. Blame evolving consumer tastes, low brand visibility, a lackluster marketing budget, or the need for updated product - in fact, go ahead and blame all of the above.
Despite its age, the current fourth-generation Pajero (itself arguably an extensive rework of the previous model) has been carrying a lot of water for the brand in other parts of the world since its debut in 2006. So it's pretty well time for a new one. Problem is, its replacement is still a ways off. That's according to Australia's Go Auto, which has learned that the next-generation Pajero could still be three years away, if not longer.
According to Go Auto, the next model will be a much-changed beast, with design targets including a major weight loss and increased efficiency to go along with more luxurious appointments. In order to make gains in fuel economy, the plug-in hybrid technology that the company has already introduced for its new Outlander crossover will likely be a part of the SUV's development program.

Mitsubishi pondering $2B share sale?

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.

Japan readying first stealth fighter for 2016 test

This post is appearing on Autoblog Military, Autoblog's sub-site dedicated to the vehicles, aircraft and ships of the world's armed forces. The nation of Japan is somewhat unique in terms of the world's militaries. Following its loss in World War II, the country was stripped of its ability to wage war, and its military was reestablished nearly a decade later not as an aggressive force but as a self-defense force. Today, the Japanese constitution forbids the country from maintaining anything but its Ground, Maritime, and Air Self-Defense Forces. Since Prime Minister Shinzo Abe first took office in September 2006 and continuing in his second term, which began in late 2012, Japan's military has seen something of a renaissance. Earlier this year, the country's legislature officially approved a new law that allowed Japan to use its military in international conflicts, even if there's no direct threat to the Home Islands. And even earlier still, Japan announced a desire to increase its drone capability. Now, like the US, Russia, and China, the country is preparing its own stealth fighter. Slated to take to the skies for its maiden flight in early 2016, the Advanced Technology Demonstrator X is a Mitsubishi-built plane that looks like the lovechild of an F-22 Raptor, an F-16 Falcon, and an F/A-18 Hornet. According to the attached video from Bloomberg, the ATD-X carries all the stealth fighter hallmarks. Its shape is designed to minimize its radar cross-section, while the body is coated in radar-absorbent material. And of course, the weapons systems are stored within underbelly bays. But why is Japan even testing it, especially when you consider the company placed an order for 42 F-35 Lightning IIs way back in 2011? Well, for one, it's going to be a lot more affordable than the F-35, which is the single most expensive weapons platform in human history. Where individual F-35s cost around $100 million, depending on what source you're looking at, Bloomberg reports that the ATD-X could be developed for just $324 million. Even if there are some utterly absurd cost overruns and the per-unit cost is closer to astronomical than affordable, putting together a fleet of production ATD-X's is probably going to be cheaper overall. You can hear more about why Japan is considering the ATD-X in the video down below. Check it out.