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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 major powertrain updates, Geneva reveal

Mitsubishi will put seven of its wares on display during press days at the Geneva Motor Show, the headliner being an updated 2019 Outlander PHEV. Engineers have upgraded the entire hybrid powertrain, starting with the switch from a 2.0-liter Otto cycle gas engine to a 2.4-liter Atkinson cycle gas engine. Mitsubishi hasn't revealed output numbers, but the carmaker promises "higher torque, smoother operation, and overall higher efficiency." Generator output, rear motor output, and lithium-ion drive battery output all go up by 10 percent, and battery capacity gets a 15 percent boost. Going off the specs on the Mitsubishi Cars site, that would take the rear motor up to 66 kWh and the battery capacity from 12 kWh to 13.8 kWh. Along with the extra battery output, the 2019 Outlander PHEV should be expected to switch into EV mode more often, and stay there longer. Two drive modes join the current programming, Sport and Snow sidling up with Normal and 4WD Lock. One must look closely to note the exterior revisions, almost all of which are up front: a new graphic on the front grille, new LED headlights, rectangular foglight bezels, and a more prominent front skid plate. A "more elaborate" two-tone, 18-inch wheel shakes things up along the flanks, a larger rear spoiler holds things down out back. We probably won't get a look at the interior until Geneva, but "new quilted fine leather upholstery, all-new hip-hugging front seats, revised switchgear, a new instrument panel, new trimming, rear A/C outlets, and more" await us. The new Outlander PHEV gets to Europe in late 2018, likely greeted with the same fever that's seen the SUV move 100,000 units there in three years. Related Video:

A pair of Mitsubishis, the Mazda CX-30 and electric incentives | Autoblog Podcast #673

This week's Autoblog Podcast features Editor-in-Chief Greg Migliore and Consumer Editor Jeremy Korzeniewski as they debate the merits of the redesigned Subaru BRZ and Toyota 86 coupes and whether or not they are distinctive and powerful enough to attract buyers. The duo spends some time discussing ongoing EV and infrastructure legislation before turning their attention to a trio of crossovers. Greg muses about the 2021 Mazda CX-30 before Jeremy talks about the refreshed 2022 Mitsubishi Eclipse Cross and completely redesigned Outlander. We get nostalgic as we remember the dearly departed Pontiac GTO before wrapping the podcast up by making one more suggestion to a longtime listener who is shopping for a vehicle to replace her aging Honda Pilot. Autoblog Podcast #673 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars We're Driving 2021 Mazda CX-30 2022 Mitsubishi Eclipse Cross 2022 Mitsubishi Outlander News 2022 Subaru BRZ revealed with 228 horsepower New Toyota GR 86 breaks cover as the Subaru BRZ's friendly rival Toyota 86, Subaru BRZ stay the course ... thatÂ’s OK. Biden aims to juice EV sales with tax credits, rebates: Will it work? 2004-2006 Pontiac GTO | Used vehicle spotlight Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.