The Mitsubishi Lancer Evolution has received heaps of praise from petrolheads all around the world. The rally-bred model enjoyed a 24-year long career with 10 generations built from 1992 to 2016 when the last one rolled off the production line. Mitsubishi fans were thrilled when the company announced the revival of Ralliart; however, its CEO ruled out any possibilities for a new Evo.

As reported by the Japanese outlet Response, Mitsubishi Motors President and CEO, Takao Kato, gave some hints about the future of the brand at the annual shareholders’ meeting. Speaking about the recent announcement on Ralliart, Kato said they will start by offering a wide range of genuine accessories for their model range. While he confirmed that rally involvement is considered for the near future, he also said there are no plans in offering a new Lancer Evolution.

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Some Mitsubishi Motors’ shareholders have specifically requested to revive the Evo but this is not possible at the moment due to the high development costs associated with the automaker’s journey towards electrification. “Electrification costs a lot and the company is still not strong enough,” Kato explained. “We had a big deficit in the previous fiscal year and our priority is to revive the company first and then roll out the cars that fans are waiting for.”

The goal for Mitsubishi is to offer a fully electrified range by 2030, something that requires every last dollar of their available funds. While the company was a pioneer with the fully electric i-MiEV launched back in 2009 and the plug-in hybrid versions of the Outlander, it is now lagging behind its rivals without any purely electric offerings.

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It is understood that if Mitsubishi wants to sell in volumes, they need to focus on SUVs like the Outlander and the Eclipse Cross. As a member of the Renault-Nissan-Mitsubishi alliance, the Japanese company has access to the CMF electric platform underpinning the Nissan Ariya SUV, the upcoming Renault Megane E-Tech crossover, and the Mitsubishi Airtech SUV which is reserved for China.

Mitsubishi is also preparing to launch two new models for the European market that will be built by Renault. The French company has publicly announced its commitment to the C-and D-Segment cars, something that could potentially provide Mitsubishi a good platform for a new Lancer; however, the decreasing sales of four-door saloons make its return highly unlikely.

To sum up, the only way we are going to see a new Evo is either in concept form to satisfy the masses, or after a long period of time given that Mitsubishi will be successful enough to make a sufficient amount of profit. Let’s just hope that the Evo name won’t be used for an SUV for marketing reasons like the Eclipse did.

The Mitsubishi Evo X was discontinued in 2016 without a planned successor.

Note: The opening image is an illustration from Enoch Gonzales and is not endorsed by or related to Mitsubishi