Mitsubishi is Japanese auto manufacturer with the history of 100 years. Yataro Iwasaki was the founder of the company. He established the company in 1870 and named it as Mitsubishi Shokai. Mitsubishi Motors Corporation is the sixth largest automaker in Japan and 17th largest in the world by global vehicle production. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries. The company has its headquarters in Minato, Tokyo.
The first product of the company was a handmade sedan which was based on the Fiat Tipo 3. Mitsubishi entered in the Indian market with collaboration with Hindustan Motors Limited. It announced the launch of 1.5-liter gasoline and 2.0-liter diesel Lancer passenger car models produced at Hindustan Motors Limited (HML) in Calcutta this was considered as Mitsubishi’s first activity in India. In 1995 the Mitsubishi group and Hindustan Motors Limited made an agreement that Mitsubishi Motors would supply HML with technical assistance relating to the production of a gasoline engine Lancer model. The Lancer is produced at HML's Chennai factory and would be sold through HML sales network in India. HML has a plant in Chennai which has a capacity to produce 30,000 units per year. The dealerships in India sell the full range of Mitsubishi cars, products, as well as the Pajero, Cedia, Lancer, Montero and the Outlander models
Mitsubishi India plans to launch its new product in 2011; it will be Mitsubishi Lancer Evolution X. This will be the newest addition to the range of Lancer cars. It has one of the best engineered engines in its 2.0L 16 valve MIVEC, DOCH turbo that comes with 5 speed manual transmission. The engine is designed to have a maximum power of 359 bhp at 6500 rpm and a torque of 492 Nm at 3500 rpm. Mitsubishi has ventured to give the Lancer a macho look and an unmatched style. The price tag of this car is expected around 22 Lakhs in the Indian market.
Mitsubishi India also plans to introduce its new small car by 2011 the car will give challenge to Hyundai i20, Fiat Grande Punto, Maruti Ritz, Volkswagen Polo, Maruti Swift and Nissan Micra.