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Mitsubishi Motors to invest $12bn in green cars by 2030

Japanese automaker aims to 'double' revenue from Southeast Asia

Mitsubishi Motors plans to launch 16 new models over the next five years. Twelve will be launched in the Southeast Asian region, of which seven will be electric vehicles.   © Reuters

TOKYO -- Mitsubishi Motors will invest more in developing electrified vehicles, such as hybrid and battery electric vehicles, and increase revenue from Southeast Asia in what remains of this decade as the momentum for green cars in developed economies starts to reach the region's auto market.

The Japanese automaker will invest as much as 2.5 trillion yen in research and development and capital expenditure by 2030, and aim to allocate 70%, or about 1.7 trillion yen ($12.4 billion), in green cars, said President and Chief Executive Takao Kato at a press briefing on Friday.

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