"Extremely difficult" for a Mitsubishi-sized carmaker to go it alone: CEO Takao Kato confirms plans to team up with Nissan on new electric car and next-gen Navara/Frontier ute replacement with Triton know-how - report

Mitsubishi announced a record operating US$739.8 million profit on Wednesday with the United States a key growth region for the plug-in hybrid specialist. 

In discussions with Mitsubishi Motors Corporation CEO Takao Kato, AutoNews was told the Japanese brand is working on a new electric vehicle and one-tonne pick-up to capitalise on North American market growth in collaboration with Nissan. 

"One thing for sure is that it would be extremely difficult for an automaker of our size to survive all on its own", Kato told AutoNews. "I think exploring collaboration with partners is the best strategy", he added.

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For the electric vehicle partnership, Kato-san indicated it would be an OEM partnership as has been done with the Renault-based ASX replacement in Europe. A version of Nissan’s Ariya Tesla Model Y rival for the United States could happen, though this remains under study. 

In return, Nissan will develop a plug-in hybrid using Mitsubishi technology currently found in the Outlander and Eclipse Cross PHEVs. 

The ute is another interesting story. Given the vehicle is targeting the United States, it will need to be built domestically to avoid the country’s high 25 per cent tariff on imported commercial vehicles. 

Kato-san said unequivocally that the next-gen one-tonne pick-up truck will be developed with Nissan. The current Triton is not sold in North America and nor is Navara, Nissan instead sells the Mississippi-built Frontier as a Ford Ranger and Toyota Tacoma rival. 

It is understood the next-gen Navara will move onto the new Triton’s underpinnings, so logic says a similar path will be followed in the North American market. The Navara/Frontier split may continue, with the latter continuing to be slightly larger for US tastes. 

This could see a US-version of the Triton come to fruition potentially using the L200 name. A spokesperson told CarsGuide Mitsubishi Australia has no involvement in the project so the vehicle is unlikely to come to Australia. 

And there’s another snag – that being ‘one ton’ in US truck speak means bigger workhorses like the Ford F-350 and Chevrolet Silverado 3500HD. Admittedly, a bespoke heavy-duty US-only Triton and Frontier seem unrealistic. 

Electrification is certain to play a part, whatever the decision. Mitsubishi is the Alliance project leader in plug-in hybrid and utes so that is definitely under consideration, but Mitusbishi has yet to decide finally on pure electric, plug-in or regular hybrid for its ute. 

Mitsubishi could use the Ariya as an EV start-point.

Kato-san also commented on Nissan’s recent memorandum of understanding with Honda, saying he would be open to a similar tie-up with Mitsubishi and another brand. 

There was no mention from Mitsubishi about the third Alliance partner, Renault. The French marque is also looking to add a dual-cab ute to its stable as a replacement for its Navara-based Alaskan. That vehicle is built in Argentina and sold in Latin American markets.

It’s another opening for Mitsubishi to broaden its appeal with a Triton-based Renault ute that could be sold alongside the Mitsubishi product in certain markets. 

In the United States, Mitsubishi posted a 36 per cent sales increase compared to Q1 2023, shifting 28,403 new vehicles with only four models. 

This is Renault's Navara, sold in Latin America.

The Australian market contributes more than its fair share to Mitsubishi’s bottom line, with 20,188 sales in the first quarter – a 21.3 per cent increase on last year – in a much smaller market. 

Mitsubishi currently sells five models in Australia with more Triton variants likely to drive sales further. It’s this newfound success in countries like the United States and Australia that has seen Mitsubishi turn its attention to new horizons and away from the slim-margin ASEAN region. 

The Mitsubishi Australia spokesperson added that there would be more to come by mid-year following a national dealer conference.