A sign of a truly legendary car is repeated calls for it to make a comeback in some new shape or form, even if it has been discontinued for years. A case in point is the iconic Mitsubishi Lancer Evolution which was in production from the early 1990s until 2016. Many talented render artists have created their own stunning concepts of a modern Evo and the recent announcement by Mitsubishi that its Ralliart motorsport and high-performance brand would be returning fueled hopes for an Evo comeback. Unfortunately, the latest word from Mitsubishi is that a new Evo simply isn't on the agenda.

In a new report from the Japanese publication Response, it was indicated that "there are no plans to commercialize the Lancer Evolution" despite the fact that shareholders requested the revival of the sports sedan.

In a statement translated from Japanese, Mitsubishi Motors President Takao Kato said: "Electrification costs a lot of development costs, and the company is still not strong enough. We had a big deficit in the previous fiscal year, so we first revived the company and then put out the cars that fans are waiting for."

The last part of this statement leads us to believe that perhaps a new Evo isn't entirely off the table once the company is in a better financial position.

"We would like to create a car that allows customers to experience the electrification technology, SUV technology with high off-road driving performance, and the comfort performance in a functional and enjoyable space," said Kato.

Currently, Mitsubishi doesn't sell a single EV in the United States and its only electrified model is the Outlander Plug-In Hybrid. Earlier this year, this SUV was upgraded with a larger gasoline engine and a new electric motor. A new battery also marginally increased its all-electric range.

Although chances of an Evo revival seem slim, here's hoping that this changes once the brand's electrification strategy kicks into high gear.