Mitsubishi Group of Companies or Mitsubishi Companies is a Japanese conglomerate consisting of a range of autonomous businesses which share the Mitsubishi brand, trademark and legacy. Mitsubishi Motors Corporation is the sixth largest automaker in Japan and the seventeenth largest in the world by global vehicle production. It is part of the Mitsubishi keiretsu, formerly The biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries. The company has its headquarters in Minato, Tokyo.
Mitsubishi Shipbuilding Co., Ltd. introduced the Model A, Japan''s first series-production automobile. The hand made seven seater sedan was based on the Fiat Tipo 3. The car proved to be expensive and the production was stopped after building 22 cars. Immediately following the end of the Second World War, the company returned to manufacturing vehicles. Fuso bus production resumed, while a small three-wheeled cargo vehicle called the Mizushima and a scooter called the Silver Pigeon were also developed.
The company then introduced the Mitsubishi 500, a mass market sedan, to meet the new demand from consumers. It followed this in 1962 with the Minica kei car and the Colt 1000, the first of its Colt line of family cars, in 1963. Within three years its output was over 75,000 vehicles annually. Looking at the future this sector held, the company decided that they should create a single operation to focus on the automotive industry. Mitsubishi Motors Corporation (MMC) was formed on April 22, 1970 as a wholly owned subsidiary of Mitsubishi Heavy Industries.
Part of the company''s expansion strategy was to increase exports by forging alliances with well-established foreign companies. Therefore, in 1971 MHI sold U.S. automotive giant Chrysler a 15% share in the new company. Mitsubishi finally achieved an annual production of one million cars in 1980, but by this time its ally was not so healthy. As part of its battle to avoid bankruptcy, Chrysler was forced to sell its Australian manufacturing division. The new Japanese owners renamed it Mitsubishi Motors Australia Ltd (MMAL).
Mitsubishi Motors went public in 1988Hirokazu Nakamura became president of Mitsubishi in 1989. Mitsubishi''s wide line of four-wheel drive vehicles, from the Mitsubishi Pajero Mini kei car to the Delica Space Gear passenger van, rode the wave of SUV-buying in Japan in the early to mid-1990s, and Mitsubishi saw its overall domestic share rise to 11.6% in 1995.
In India, Mitsubishi is in collaboration with Hindustan Motors Limited. Mitsubishi Motors Corporation announced the launch of 1.5-liter gasoline and 2.0-liter diesel Lancer passenger car models produced at Hindustan Motors Limited (HML) in Calcutta.
Under a contract signed in September 1995, the two companies agreed that Mitsubishi Motors would supply HML with technical assistance relating to the production of a gasoline engine Lancer model. The Lancer is produced at HML''s Chennai factory and would be sold through HML sales network in India. HMLs Chennai factory has an annual production capacity of 30,000 units. The dealerships in India sell the full range of Mitsubishi cars, products, as well as the Pajero, Cedia, Lancer, Montero and the Outlander models.