Mitsubishi Motors to accelerate R&D, capital spending: Nikkei

The new plan calls for spending 5 percent of annual sales on equipment and the same proportion on R&D, the Nikkei reported.(http://s.nikkei.com/2geSr78)

Funds will be used by the company for the development of electrified vehicles and for production in China and Indonesia.

Mitsubishi Motors will release the specifics of the capital injection in a new medium-term plan due Wednesday, the business daily said.

($1 = 112.1600 yen)

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Stephen Coates)