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Mitsubishi Motors CEO Osamu Masuko has planned to postpone all product development spending except on small cars and electric vehicles.

“We have stopped all product investments except for environmental developments. That means small cars, plug-in hybrid developments and electric car projects,” said Masuko in an interview with Automotive News Europe.

Besides focusing on small electric-vehicles, Mitsubishi will begin developing plug-in hybrid technology. He said that Mitsubishi’s plug-in hybrid technology will arrive in 2013 in lower-medium , upper-medium segments and in SUVs.

Masuko said that smaller Mitsubishi models will continue to focus on all-electric powertrains. Mitsubishi’s i MiEV will arrive in Japan in 2010. Europe, U.S., and other left-hand-drive markets will get their i MiEV in 2011.

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