The Mitsubishi Company was the brain child of Yatar? Iwasaki. A little-known fact is that it was first established as a shipping company and not an automotive one. The name, which consists of mitsu and hishi, means
water caltrop respectively. The familiar rhombus, which is now the automaker's logo, is translated as
three diamonds. And that's what Mitsubishi is all about: a diamond in the automotive industry.
Diamond in the Rough
In 1960, Mitsubishi launched the Mitsubishi 500, a compact car. It was the start of manufacturing passenger vehicles on a larger scale. The automaker also sold different models of vans and pickup trucks. The new Mitsubishi models then became more family-oriented since they can carry more passengers than the two-door cars sold by other companies. Mitsubishi also explored the world of racing and consequently took top honors in Japan's Grand Prix. In the 1970s, Mitsubishi expanded its reach further by penetrating the American market. By the end of that decade, the company's sales went high as 1 million cars in a single year.
Diamonds are Forever
In the later years, Mitsubishi GDI engine was awarded the
European Auto Innovation Award 98 as it was the most innovative car in terms of technology. The achievements did not stop there as it went forward with the different awards for the different automobiles. The Lancer was named
Highest in Customer Satisfaction with Factory-Installed Navigation Systems and was the only one who got this award. It also won
Best Overall Value of the Year because it delivered excellent value at lower than anticipated costs. Mitsubishi also excelled as a company as it was given the name,
Company of the Year at the 13th annual Urban Wheel awards. However, at some point, the new millennium was a struggle for the company. There were a number of recalls, but the company did not lose hope and still continued innovating. Now, Mitsubishi does not only limit itself to manufacturing cars, but currently produces home appliances as well. This is how the company became a diamond out of all the other companies in the industry.