Mitsubishi is doubling down on its goal to abandon gas-powered vehicles.
The Japanese brand, which introduced its first purely electric car just this year, will move to an all-electric and hybrid lineup by the mid-2030s, it said in announcing its midterm business plan.
The target expands upon its earlier goal of 50% electrification in new-car sales by 2030 to 100% by 2035. It considers electrified models to be a mix of plug-in hybrids, hybrids and purely electric vehicles.
The company said that to achieve its goal, it will invest aggressively in research and development and put $1.5 billion into battery sourcing.
It will also increase electrification collaboration with alliance partners Renault and Nissan. As part of a new alliance deal with Renault reached last month, Mitsubishi will invest in Renault’s electric-vehicle and software business, Ampere.
The brand plans to introduce 16 models in the next five years as part of the Challenge 2025 vision.
LEARN MORE: Get more detailed information on the brand's plan here.
