The company came in to existence in 1870. The name Mitsubishi consists of 2 parts - "mitsu" (three) + "bishi" (water caltrop, an aquatic plant) and therefore get its 3 pointed logo through the Rhombus or the three diamonds.
Mitsubishi Motors has been making cars since 1917 and over the years some its models have a cult following (Colt, Lancer and Pajero).
Their Pajero is the most successful vehicle and has won 7 of the last 10 races in the Paris-Dakar Rally.
In 1998, Mitsubishi Motors joined hands with Hindustan Motors and set up a plant in Thiruvallur where they made the Lancer. Now they make the Pajero Sport.