Mistsubishi Plans Low-Cost Cars for Emerging Markets

Mistsubishi Motors Corp. will develop a low-priced car for emerging economies in Asia based on the automaker's fuel-efficient Colt.

For the first time in four years, Mitsubishi made money last year and now it's burning a hole in its pocket.

The price will be around 1 million ($8K) depending on the actual launch timing…and what Toyota and Nissan come up with…also in the market to produce low-priced cars so as to crack the foreign markets.

Mistsubishi also wants to develop electric and other fuel-efficient cars to go back on the offensive in existing minicar and SUV markets, like the US and Europe.

It's good to have money, eh?