The Lancer Evolution represented Mitsubishi’s triumph in rally racing and its discontinuation in 2016 was viewed by some as a symbol of the company’s fall. Since then, speculations about a revived Evo have been circulating. However, given Mitsubishi’s financial situation and product lineup challenges, a high-risk halo car like the Evo doesn’t seem financially viable. Mitsubishi Motors’ CEO and President Takao Kato shares this sentiment and recently clashed with investors who were advocating for the revival of the Evo.
During the annual general shareholders meeting on June 23, Kato revealed this disagreement, as reported by Japanese Nostalgic Car. According to Japan’s Response, shareholders made a request for the return of the Lancer Evolution, possibly influenced by Mitsubishi’s revival of its Ralliart racing division and planned reentry into motorsports. Despite this, Kato resisted, emphasizing the company’s urgent need to regain profitability and diversify its range of electrified products.
2015 Mitsubishi Lancer Evolution X Final Edition, Mitsubishi via NetCarShow
“Electricity development incurs significant costs, and the company’s financial position is not yet robust,” said Kato. “We faced a substantial deficit in the previous fiscal year, so our priority is to stabilize the company first before fulfilling the desires of our fans. I also aspire to bring back the Evo when conditions allow.”
Kato affirmed that Mitsubishi aims to offer “all types of vehicles by 2030,” hinting at the possibility of an electric-powered new Evo, potentially featuring a hybrid powertrain in collaboration with Nissan and Renault, aligning with the renewed focus on Ralliart.
As previously confirmed by Kato, Ralliart will commence with branded accessories and potentially introduce two new performance models. Expected in 2023 or later, at least one of these models could be an SUV, possibly a reinvented Pajero. The Montero, which ended its 40-year production in May, could be revitalized as an electrified SUV.
“We aim to develop a vehicle that showcases electrification and SUV technology while offering superior off-road capability and comfortable performance in a functional and enjoyable environment,” stated Kato.
The future direction of Ralliart post-revival and its commitment to high-performance vehicles remain uncertain. Nevertheless, there is a growing momentum within Mitsubishi to revive the Evo, providing enthusiasts with hope for its return.
Do you have a tip or question for the author? Reach out at: james@thedrive.com