The company was founded by Yataro Iwasaki in 1873. Initially the company was engaged in building and repairing ships. The first car was manufactured in 1917 and much resembled one of the models of Ford. Demand for products of this kind was small, and in 1921 production of model "A" stopped. Then, Mitsubishi has launched the production of heavy trucks and buses. In 1935 the company designed and produced the first Japanese diesel bus.
After the Second World War the company returned to the interrupted production of buses, and in 1947 they began installing electric motors. In 1960 the company came back to the production of cars - the model produced was Mitsubishi 500. In 1970, Mitsubishi built the production line for models of Galant and Lancer - in an updated form these models exist to this day. In 1983, the company puts on a streamline the production of cars equipped with electronic suspension system. From 1982 there comes the famous Mitsubishi Pajero. Extending the production range Mitsubishi started manufacturing a full range of vehicles by 1998. Since 1997, a joint venture with Volvo «Ned Car» in the Netherlands produced front-wheel Carisma.
At this moment, Mitsubishi manufactures a full range of passenger cars, SUVs and pickups.