Rumor has it that Mitsubishi is working on a return of the Lancer Evolution as a high performance sedan and hatchback. The car could be one of the first results for Mitsubishi of joining the Alliance with Nissan and Renault. The new Lancer Evolution would use the alliance's modular CMF platform, shared with the next generation Renault Megane RS.
Under the hood would be the powertrain from the Megane, a turbo-charged 2.0-liter 4-cylinder producing up to 341 horsepower. While the Renault would stick with front-wheel drive, the Mitsubishi would get a version of their S-AWC all-wheel drive system.
As Renault is just now updating the current Megane line, any Mitsubishi Evo that comes from it is still years away and yet to be green-lighted. So don't hold your breath just yet.