Tag: mitsubishi

After purchasing three agin steam ships, including the Golden Age (above), Yataro Iwasaki founded Mitsubishi Group on this day in 1870 as a shipping company. Iwasaki grew his business quickly by becoming the first Japanese business to offer overseas mail delivery to China. Over the next few years competition heated up on the seas, including with government rivals, but Mitsubishi was playing several other fields ashore during this time. Aside from shipping, the company expanded into mining copper and coal, and shipbuilding. In 1893, Yataro’s son Hisaya, a graduate of University of Pennsylvania, became president of the company. He set up different divisions within the company, including banking, real estate, and marketing. Eventually, an automotive development group came about.  ...

Mitsubishi Starion In 1971 Chrysler Corporation purchased 15 percent of Mitsubishi, allowing the Japanese company to sell the Mitsubishi Galant as a rebadged Dodge Colt in America to compete in the growing small car market in the US. Less than a decade later Chrysler was bleeding financially and Mitsubishi was not pleased with sales performance. 1982 Mitsubishi Tredia In 1980 Chrysler sold its Australian manufacturing division to Mitsubishi to avoid bankruptcy. Then in 1981 Mitsubishi founded Mitsubishi Motors North America, Inc to sell cars with their own name on them in the US. The first Mitsubishi badged vehicles arrived on US shores on this day in 1981. For the 1982 model year, 30,000 Mitsubishi vehicles landed in the US, including the Tredia, Cordia and Starion models, foll...