Mitsubishi 2000 Annual Report Download - page 7

and readily applicable means of reducing fuel con-
sumption and carbon dioxide emissions available to-
day −the GDI engine. Over 800,000 GDI-powered
cars reduce emission loads in Japan and Europe. The
GDI Sigma powertrain brings further benefits in fuel
economy and emissions through optimal matching of
the GDI engine and peripheral components: as seen
in the GDI+CVT powertrain that drives the new
Lancer Cedia, and the GDI+ASG that cuts fuel con-
sumption in the Pistachio.
In the pipeline, we are working with
DaimlerChrysler on the development of a new 3-
liter/100 km "Z-Car", due for launch in Japan in
2002 and other markets soon after. We have dubbed
a new "developed in, developed for
and built in, the U.S.A." model due to
go into production in 2003 "Project
America". And in the commercial ve-
hicle segment, we are currently work-
ing with AB Volvo on the develop-
ment of a new medium truck.
Highlights in our advance tech-
nology achievements include the
Mitsubishi EV, which covered 2,000
km in 24 hours in December last year to set a new
world record for an electric vehicle. We are working
with Mitsubishi Heavy Industries on the develop-
ment of fuel-cell electric vehicles. In March this
year, we announced the MEEV-II proposal for a
next-generation urban micro-car.
Mindful of the explosive growth of the Internet
and other IT, the Company is fast-tracking develop-
ment of user-friendly B2B and B2C portals and net-
works that are expected to bring significant reduc-
tions in procurement costs.
As we build a corporate culture that values the
contributions of each individual, thrives on learning,
thirsts for the better idea, and has the flexibility and
speed to put the better idea into action, we are con-
tinuing to upgrade and refine our benchmark human
resources management in order to retain, recruit and
develop the people who create the ideas, who add
value to the Company.
Outside of Japan, we are rationalizing our North
American operations to realize break-even volumes
of 200,000 units at MMSA and 160,000 at MMMA.
Fueled by a combination of a hot product-line and an
enthusiastic dealer network, in 1999 Mitsubishi
Motors was the fastest growing Japanese automotive
brand in America. This momentum continued with a
42 percent rise in sales volume for the first half of
2000 and the most profitable first half in its history.
In Europe, operations have been impacted by the
strong Yen and we are working to
improve profitability by expanding
sales of the Carisma and Space Star
models built in the Netherlands and
of the Pajero Pinin, which went into
production in Italy last year. Our al-
liances with DaimlerChrysler and
AB Volvo can only help us to boost
sales in this region.
Elsewhere, there are now defi-
nite signs of economic recovery in the countries of
Asia and the ASEAN block. The restructuring of op-
erations completed in this region over the last two
years leaves us well positioned to reap a rich new
harvest. MMC was the first auto manufacturer to
make Thailand a pickup truck production and supply
hub for global markets. In Taiwan, Korea and
Malaysia, we are strengthening ties with our local
partners and introducing measures specifically tai-
lored to individual markets.
MMC is introducing Cash Flow Management
principles as it seeks to raise capital efficiency, to
bring about a transformation in the awareness and a
further revitalization of all personnel, and to increase
the enterprise value of the Company.
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