A few days ago, Mitsubishi Motors released a mid-term business plan entitled "Step up 2010", which gave an outline of the carmaker's intended direction from 2008 to 2010. The plan includes details on several new models that Mitsubishi is interested in developing, with a focus on creating 'global cars' rather than region-specific cars. One of the highlights is a new all-electric model, with which Mitsubishi hopes to be the first of the major carmakers to release.

In a section entitled "Product Strategy", Mitsubishi outlined its desire to build cars that are more financially and environmentally responsible. This includes an increased focus on mini-cars and small cars, as well as more efficient mid-sized cars and SUV's. Officials are also focusing on bringing out cleaner diesel engines and increasing the use of the Twin Clutch SST transmission to maximize efficiency. As a culmination of their environmental focus, Mitsubishi will also release a next-generation electric vehicle dubbed i-MiEV, (ie. Mitsubishi Electric Vehicle) before their competitors are able to release a similar product. There are also plans to increase the number of mid-size platforms, as well as build an SUV based on a one-ton pickup truck and build a small, "lower-impact" SUV.

An increasing amount of profits for the company are expected to be made on the backs of its 'focus markets'; burgeoning markets such as Russia, Brazil, the Middle East, China and India. For more established markets such as North America and Europe, Mitsubishi plans to increase post-sales service to retain customer loyalty.

In terms of its inter-manufacturer alliances, Mitsubishi and Nissan are expected to work closely together on a mini car, as well as the possibility of the two giants collaborating on light commercial vehicles in the future.

The release reflects the motor industry's general shift towards producing more environmentally responsible cars, and Mitsubishi's take on the electric vehicle should shake things up a bit in the market, especially considering that other manufacturers are working on similar products and Mitsubishi is still confident it will beat them to the mark.