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Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

Mitsubishi Outlander PHEV gets more power, range and capabilities

We've driven the Mitsubishi Outlander PHEV a couple of times now, and enjoyed it quite a bit. Even though it's the same version that's been kicking around other markets in its current form for a while now, it was efficient, pleasant to drive, and offers something that is pretty rare right now: a relatively affordable plug-in hybrid midsize crossover. Now, in its home market of Japan, the 2019 Outlander PHEV is getting some significant updates, including more electric power and a bigger gas engine, a bigger battery, improved suspension, two new drive modes and some design tweaks. To start, the PHEV's battery capacity increases from 12 kWh to 13.8 kWh. That boosts its all-electric driving range from 37.8 miles to 40.4 (under Japan's testing cycle). The rear electric motor/generator also gets a slight boost in power. The gas engine increases its displacement from 2.0 to 2.4 liters. The vehicle now offers Sport and Snow modes, and its 4WD Lock mode has been adjusted to better handle poor road surfaces. To improve its ride and handling, Mitsubishi added larger front and rear dampers with a new type of damper valve to the Outlander PHEV. A faster steering ratio and retuned electric power steering control promise better steering feel and response. Mitsubishi has also increased the structural rigidity in parts of the body. Design-wise, the updated Outlander PHEV gets full LED headlights and an updated grille up front. In the rear, there's a new spoiler that improves aerodynamics and gives it a sportier look. Inside, the leather seating gets a new diamond-quilt pattern, along with the door trim. The front seats are also reshaped for more support. The new updates seem like they'll make the Outlander PHEV even more attractive both in terms of performance and design. We doubt that Mitsubishi would choose not offer these improvements in other markets, including the U.S. We've reached out to Mitsubishi to see if and when we can hope to see the improved versions stateside, and we'll update if we hear back. Related Video:

Mitsubishi Concept G4 leaves us feeling blue

To say we were unimpressed by the 2014 Mitsubishi Mirage that debuted in New York earlier this year would be one heck of an understatement. So pardon us for not oohing and aahing over the Concept G4 that we're seeing for the first time here in Shanghai. It is, basically, a Mirage sedan. Try to contain your excitement.
Mitsubishi states that it intends to roll out the production version of the G4 Concept globally, powered by a 1.2-liter MIVEC engine mated to a continuously variable transmission that should at least be good for some substantial fuel economy gains. The Mirage, after all, is rated at 37/44 miles per gallon city/highway. We're also told that the car will be very lightweight, and that this should aid in making this thing not drive like a total dud.
We'll wait and see how the relatively sharp lines of the concept transfer to production form, but given that we already know what the Mirage looks like, we have a pretty good feeling that we'll be just as underwhelmed the second time around. Have a look below for the press blast.