Mitsubishi

Year of foundation 1970

Mitsubishi's history is a complex interweaving of diverse industries, spanning over 150 years. Its evolution from a small shipping company to a global conglomerate and, finally, to a major automobile manufacturer, is marked by periods of growth, crisis, and reorganization.

The Origins: From Maritime Transport to Conglomerate (1870-1945)
Mitsubishi's history began not with automobiles, but with maritime transport. In 1870, Yataro Iwasaki founded Tsukumo Shokai, a shipping company that operated a fleet of steamships. In 1874, the company was renamed Mitsubishi Shokai (Three Diamonds Company), combining the terms "mitsu" (three) and "hishi" (water chestnut, also used in Japanese to mean a rhombus or diamond). The three diamonds logo, inspired by the Yataro and Tosa clan family crests, became the company's symbol.

In the following years, Yataro Iwasaki expanded the company's operations, which rapidly diversified into sectors such as mining, shipbuilding, railways, and insurance. Mitsubishi became a zaibatsu, a large industrial and financial conglomerate controlled by a single family, which played a crucial role in Japan's modernization and industrialization.

Entry into the Automotive Industry (1917–1945)
Mitsubishi's first foray into the automotive world came in 1917 with the production of the Mitsubishi Model A. This was Japan's first mass-produced automobile, a model based on the Fiat Tipo 3. However, production was expensive and limited, and the project was discontinued in 1921.

In the 1930s, Mitsubishi shifted its focus to the production of military vehicles, such as fighter aircraft (including the famous A6M Zero) and tanks, due to Japan's military escalation. This period marked a pause in the development of civilian vehicles.

The Birth of Mitsubishi Motors Corporation (1946–1970)
After World War II, the Allied occupation forces ordered the dissolution of the zaibatsu. Mitsubishi was divided into several independent companies, but some remained linked by name and historical ties. In the automotive sector, the various divisions of the former conglomerate began producing commercial vehicles, buses, and small cars.
In 1970, the various automotive divisions of the Mitsubishi group merged to form Mitsubishi Motors Corporation (MMC), marking the official birth of the automaker as we know it today. That same year, Mitsubishi signed a partnership with Chrysler for the production and distribution of vehicles in the United States, an agreement that allowed Mitsubishi to expand into the North American market.
Global Expansion and Iconic Models (1970–2000)
The 1980s and 1990s were the golden age for Mitsubishi Motors. The company established itself as a successful and innovative vehicle manufacturer, introducing a series of models that became global icons.
Technological innovation: Mitsubishi was among the first to introduce engines with a silent shaft to reduce vibration and developed the S-AWC (Super All Wheel Control) all-wheel drive system.
Sports models: The Mitsubishi Lancer Evolution, created for rally racing, and the Mitsubishi 3000GT were highly successful models, known for their performance and advanced technologies. SUVs and off-road vehicles: The Mitsubishi Pajero (also known as the Montero or Shogun in other markets) established itself as one of the most robust and reliable SUVs, winning numerous editions of the Paris-Dakar Rally. The L200 pickup truck also achieved great success.
Crises and Restructuring (2000-2016)
The 2000s were a difficult period for Mitsubishi Motors. The company was hit by a series of scandals and financial difficulties.
Production defect scandals: Mitsubishi was accused of concealing production defects for years, leading to massive recalls and reputational damage. Financial difficulties: The partnership with DaimlerChrysler, which lasted from 2000 to 2005, did not produce the desired results and resulted in a weakening of Mitsubishi's financial position. These crises led to a major restructuring of the company, which focused on a narrower product range and a more cautious approach to expansion. The Alliance with Nissan (2016-Present)
The most recent turning point in Mitsubishi Motors' history came in 2016, when Nissan acquired a 34% stake in Mitsubishi, becoming its largest shareholder. This transaction led Mitsubishi to join the larger Renault-Nissan-Mitsubishi Alliance. The alliance allowed Mitsubishi to share platforms and technologies, reducing production and development costs. The company is now focusing on specific market segments, particularly SUVs and hybrid and electric vehicles.