Mitsubishi Evo/2011 Mitsubishi Evolution White/black Manual Awd on 2040-cars

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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.

Watch Mitsubishi break the EV record at Pikes Peak

Take a listen folks - you're hearing the eventual future of motorsports. This is Greg Tracy and the Mitsubishi MiEV Evolution III as they assault the treacherous course at Pikes Peak in just 9:08.188.
This run is significant for a number of reasons. As we recapped in our Pikes Peak finale post, Tracy's run was a mere two seconds off the best overall time at this year's event, snagging him and Mitsubishi second place overall, as well as first in the Electric Modified class and the fourth fastest time ever recorded. Perhaps more importantly, though, Tracy thoroughly trounced the previous EV record at Pikes Peak, beating the legendary Nobuhiro "Monster" Tajima's 2013 best of 9:46.530.
It's an impressive feat, and now you can experience the whole run from as near a first-person viewpoint as you're going to get. Scroll down and have a look.

Junkyard Gem: 1983 Mitsubishi Starion

Americans had been buying Mitsubishis with Dodge or Plymouth badging for more than a decade when the first Mitsubishi-badged cars began showing up on these shores. For the 1983 model year, Mitsubishi USA offered the Cordia, the Tredia, the Mighty Max, and the Starion; the latter was a futuristic-looking rear-wheel-drive sports car that took direct aim at potential buyers of the Supra, the 280ZX, the RX-7, and even the Camaro. Here's a rare first-year "narrow-body" Starion in a Denver self-service wrecking yard. Even though every Starion sported a turbocharged engine, the word TURBO was considered so magical during this era that no self-respecting car company in 1983 would have refrained from adding at least a couple of TURBO badges. Later Starions (and Conquests) even had TURBO badging sewn into the seat belts. In 1983, the Starion's 2.6-liter Astron packed 145 horsepower, which compared favorably to the optional 175-horse engine in the much heavier 1983 Camaro Z28 (the base Z28 engine made 150hp). The 280ZX cost more and offered 145 horsepower; the 280ZX Turbo cost lots more but had 180 horses. This car looks tired but not rusty. The pins stuck into fuel-injection electrical connectors tell a sad story of its final days on the road; a frustrated owner tried to use a multimeter to figure out hard-to-diagnose electrical woes. Auto-reverse was a high-end audio-system feature in 1983 cars. Mitsubishi made (and still makes) plenty of good consumer electronics, so the sound systems in these cars were considered high-quality stuff for their time. I shot this car with a circa-1983 cereal-box-prize film camera, because it seemed like a good idea. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. With music by Osamu Kitajima and artwork by Shuse Nagaoka (whose work you may know from all those 1970s ELO and Earth, Wind & Fire album covers), the Japanese-market ad for this car reveals its SUPER POTENTIAL.