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Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

Mitsubishi Lancer Evolution will live through 2015

If it were only so easy for humans. Mitsubishi has extended the life of the Lancer Evolution X by at least a year. An MMNA spokesperson tells AutoGuide that it is "committed to introducing the 2015 model year Lancer Evolution," noting that production for said models will begin in July. This gives us a year of clarity about the future of a model whose future blinks in and out of existence quicker than a boson particle.
As far as we can tell, the Evo as we know it is definitely going to die, the question is when. In March, Mitsubishi said it "does not have any plans to design a successor with the current concept, as a high-performance four-wheel drive gasoline-powered sedan." What is rumored to fill the hole left by the Evo might or might not be a linear descendent, but is expected to be some kind of hybridized high-performance model about which much has been speculated.
MMNA PR manager Alex Fedorak told Autoblog, "Mitsubishi Motors North America, Inc. (MMNA) is committed to introducing the 2015 model year Lancer Evolution in the U.S. Production of North American-specification Lancer Evolution models for the 2015 model year will commence in July 2014." Our previous advice still stands, however, even with the extension: If you want one, get an Evo while you can.

Mitsubishi celebrates 40 years in UK with Evo festooned with aftermarket bits

Mitsubishi has an anniversary to celebrate. It has been selling cars in the UK for the last 40 years, and in recognition it is launching the Lancer Evolution X FQ-440 MR special edition with some real performance upgrades from top aftermarket companies. The models will be limited to 40 units in Frost White and priced at £50,000 each.
The special Evo uses a tweaked ECU to boost power to 440 horsepower and 412 pound-feet of torque with a six-speed, twin-clutch Sports Shift Transmission, and the engine receives a long list of augmentations with an intake, intercooler piping and tubular manifold from Janspeed, plus motorsport-specification, high-flow fuel injectors. To keep up with the acceleration, it gets six-piston front brake calipers and upgraded rear brakes behind 18-inch BBS forged alloy wheels. The suspension is lowered by 35 millimeters (1.378 inches) in the front and 30mm (1.181 inches) in the rear with Eibach coil springs.
The interior gets improvements to fit the performance upgrades. Leather-covered Recaro seats are found up front, along with an eight-speaker, Rockford Fosgate audio setup complete with a subwoofer. Navigation is standard with a seven-inch LCD touchscreen. The special edition definitely won't be making it to the US, but it's nice to see Mitsubishi commemorating itself with a performance model. Scroll down to get the full specs in the press release.