JAPAN: MMC sees profitable EVs in two years
A senior executive expects Mitsubishi Motors' electric vehicles and other environment-friendly models to be profitable in two years.
Japan's Nikkei business daily quoted MMC executive vice president Hiizu Ichikawa saying the automaker expected to pass the break-even level of 60,000 to 70,000 units sold annually by the fiscal year ending in March 2014, according to Reuters.
Sales of green vehicles are projected at 25,000 units this year, the paper said, and MMC plans to sell a plug-in hybrid from the second half of next fiscal year.
The automaker plans to boost global sales by 24% from the 2010 level to 1.37m cars in fiscal 2013 and more than double its consolidated operating profit to JPY90bn over the same period, the Nikkei said.
Ichikawa said the company plans to resume dividend payouts by fiscal 2013, the paper added.