Mitsubishi Signs MoU with the Principality of Monaco Regarding Testing of i MiEV Electric Vehicle

Tokyo, Mar 27, 2009; Following a successful testing exercise conducted in December 2008, the Principality of Monaco, Mitsubishi Motors Corporation, Mitsubishi Motors Europe B.V. and MC Automobile (Europe) N.V. - a subsidiary of Mitsubishi Corporation - yesterday signed a Memorandum of Understanding (MoU) regarding fleet testing of Mitsubishi Motors' zero on-road emission i MiEV(1) electric vehicle with the Principality of Monaco.

Through this MoU, all involved parties demonstrate their shared interests in exploring electric vehicles for the sake of sustainable mobility. Monaco desires to secure a fleet of electric vehicles that emits the least amount of CO2 possible, to utilize for electric transport, and desires to become the forerunner for the implementation of electrical transport amongst countries worldwide. Mitsubishi Motors, as the forerunner in the development of electric vehicles, sees opportunities for collaborating with Monaco as a partner and as a test market for its i MiEV.

As a result, a fleet of Mitsubishi i MiEVs will be supplied from the end of CY2009 to Monaco's local community service organizations, including the post office, telecom office and other organizations including Monte Carlo SBM hotels and casinos.

The aim will be to monitor the "real-life" daily usage of these cars in a European environment, the fine-tuning of their technical specifications as well as exploring the market potential in Monaco for deployment of the forthcoming left-hand-drive i MiEV there through promotional activities.

Announced in October 2006, the i MiEV represents the pinnacle of Mitsubishi Motors' green technologies. Currently involved in testing and promotional activities in Japan, New Zealand, Australia, the United States and across Europe, the i MiEV will be launched in Japan during the summer of 2009.

(1) MiEV: Mitsubishi innovative Electric Vehicle