All about Mitsubishi

On May 9, Mitsubishi Motors Corporation (MMC) announced that, MMC has been notified on May 8 (U.S. time) that Mitsubishi Motors North America, Inc. (MMNA), a consolidated subsidiary of MMC in the United States, received a judgment against it relating to the product liability lawsuit in the Court of Common Pleas, Philadelphia County, Pennsylvania in the United States, as of May 6 (U.S. time), ordering MMNA to pay damages in the amount of USD 1,010 million.

This lawsuit relates to an accident that occurred in 2017 involving a 1992 Mitsubishi 3000GT. The plaintiff's husband was seriously injured in the accident. In November 2018, the plaintiff filed a lawsuit against MMC and MMNA seeking compensation for various types of damages, insisting that his injuries were caused by a defect in the restraining system of the vehicle.

In January 2021, MMC was dismissed as a defendant, leaving MMNA as the sole remaining defendant. MMNA disputes plaintiff’s claim that the vehicle is defective.

MMC and MMNA say that they do not accept the above judgement and MMNA plans to appeal to the higher court.

Based on MMC’s press release

Mitsubishi Motors' FY2023 full-year financial results were announced.
Sales increased 13.5% YoY to JPY 2,789.6 billion. This was a JPY 331.4 billion increase over the previous year's JPY 2,458.1 billion.
Operating income increased 0.2% YoY to JPY 191.0 billion. This was a JPY 476 million increase over the previous year's JPY 190.5 billion.
Ordinary income increased 14.8% YoY to JPY 209.0 billion. It was JPY 27.0 billion more than the previous year's JPY 182.0 billion.
Net income decreased 8.3% YoY to JPY 154.7 billion. This was a JPY 14.0 billion decrease from the previous year's net income.

See details

Click here for Mitsubishi Motors' financial results

Announced on May 8, 2024, Mitsubishi Motors Corp., Mitsubishi Motors Thailand (MMTh), along with PTT PLC and its EV business, Arun Plus Co., Ltd. will begin discussing collaboration in xEV business, including local manufacturing operations in Thailand, domestic sales and export, and related services. 

PTT has been a leader in Thailand's energy industry for many years, with extensive knowledge of the energy industry and automotive market, as well as its own EV ecosystem concept.

The Letter of intent (LOI) signing ceremony was held on May 7 at PTT’s HQ in Bangkok, regarding the business collaboration and development of EVs in Thailand.

(From Mitsubishi Motors press release on May 8, 2024)