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Yesterday, Mitsubishi Motors informed the press the company was indeed planning to be in business past next Tuesday. Mitsubishi Motors and its parent, Mitsubishi Heavy Industries, announced they will collaborate on a small diesel engine that will meet the next level of Europe's gathering emissions standards, or Euro 5, that will go into effect in 2010. The engine's expected to be in the can by 2009, and will show up in small and midsize cars for the 2010 model year — replacing diesels sourced by Volkswagen and DaimlerChrysler. According to the EU, Euro 5—compliant diesels will be required to emit exhaust that simulates the breath of puppies, scented with undertones of cotton candy and purple Jelly Belly candy.

DaimlerChrysler Sells Stake in Mitsubishi [internal]