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[34] MITSUBISHI MOTORS CORPORATION Annual Report 2001
ALLIANCE WITH DC
MMC reached an agreement in March
2000 with DaimlerChrysler (DC), one of
the world’s premier passenger car
manufacturers, regarding the forma-
tion of a strategic alliance. The purpose
of this equity-based and operative part-
nership is to ensure cooperative efforts
throughout the activities of the two
companies, encompassing the develop-
ment, production and marketing of
passenger cars. DC acquired a 34%
stake in MMC through a private place-
ment of new shares. The alliance will
create the dynamic mechanism needed
to motivate global collaboration, includ-
ing joint production and marketing in
Europe by MMC and DC with regard
to the joint development of a new, stra-
tegic small car.
In April 2001, MMC further agreed to
a change in the alliance’s strategic
partner in Truck & Bus operations from
AB Volvo to DC, which raised its equity
interest in MMC from 34% to 37.3%.
Currently, MMC is working to expand
its business in the passenger car and
truck and bus markets with DC as its
exclusive partner.
PASSENGER CAR
JAPAN
Fiscal 2000 brought steady growth in
domestic and export sales, such condi-
tions having been stimulated by numer-
ous launches of new models by various
automotive manufacturers. In addition
to the introduction of new and unique
models, in October 2000 MMC launched
a free-inspection campaign for all its
passenger cars dubbed the Mitsubishi
Safety Support Program. The program
was designed to strengthen and improve
MMC’s marketing and service system,
thereby providing a greater degree of
customer care.
The key MMC models introduced
during fiscal 2000 are as follows:
The LANCER CEDIA, launched in May
2000, and the LANCER CEDIA WAGON,
released the following November, adopt
a new-generation powertrain com-
prised of MMC’s proprietary GDI
(gasoline direct injection) engine and
CVT (continuously variable transmis-
sion), achieving excellent fuel economy
and smooth but responsive perfor-
mance. Moreover, the new LANCER
CEDIA models offer spacious interiors
and user-friendly features.
OPERATIONAL REVIEW