Mitsubishi to spend BILLIONS to get automotive company back on track

Mitsubishi Motors has big plans to get there automotive company back in the game after the recent mpg scandal. The Japanese company plans to add $5.35 billion in capital spending and research and development in a time span of the next three years.

5 percent of annual sales will be used on equipment and the same proportion on R&D for the new plan.

Mitsubishi e-Evolution concept

Some money will go to the development of electric vehicles such as the new e-Evolution concept which was teased last month by the automotive company. The e-Evolution Concept is a new-generation high-performance all-electric crossover SUV. The all-electric concept vehicle shows the direction Mitsubishi Motors will take in the near future.

More information on the plan will be released by Mitsubishi Motors on Wednesday.

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