It won't even return as a hybrid.
Mitsubishi just can't compete anymore. That's the message we're getting from a recent statement made by the company's COO Tetsuro Aikawa to Car Advice. After a deal fell through to co-develop sedans with Renault, Mitsubishi is just going to give up on sedans altogether. As Mr. Aikawa put it: "There are two reasons for that. One of the reasons is because, concerning the investment on development, we'd like to concentrate on SUVs, PHEVs and EVs. That's one reason."
"The second reason is because sedans, in the world, is a very high competition at the moment and it's very difficult to come up with a profit." That means no Evo of any kind at all, since Aikawa went on to say "While I'm the president probably no introduction of the next-generation Lancer". The company will continue to sell the current generation until it feels the car has run its course, and then it's over. This is obviously bad news for Evo fans, but not entirely unexpected. Mitsubishi has been talking for a long time about wanting to concentrate on EVs, we just didn't know it would be so soon or so severe.