Mitsubishi fears the rise of developing world manufacturers and the resulting Mega Competition

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During the opening remarks of the Global Auto Forum in Chengdu yesterday Mitsubishi’s President Mr. Osamu Masuko took to the stage to give his vision of the modern car industry. Mr. Masuko was clearly troubled about the era of what he called ‘Mega Competition‘ which would upset the usual competition between American, European and Japanese manufacturers, although Mr. Masuko did not mention any countries or manufacturers in particular it was clear that he was referring to Chinese manufacturers.

Mr. Masuko put forward his strategy for steering Mitsubishi through the forth coming period of Mega Competition by point out that Mitsubishi will continue to focus on developing low cost hybrid and energy saving vehicles which can be used in multiple situations, he also pointed out that that were working on utilizing their MIEV electric vehicle to be a power source for the home rather than a power loser as with traditional gasoline powered cars, Mr. Masuko showed pictures of the MIEV’s battery packs being used to power house hold electrical goods such as rice cookers during the recent Japanese earthquake and resulting tsunami which devastated the country.

Mr. Masuko believes that established auto manufacturers can still come out on top despite the rise of developing world manufacturers owing to strong R&D traditions and branding which will allow them to market towards developing world consumers.