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Another automotive icon bites the dust.

The Mitsubishi Lancer Evolution (code-named "Evo") is about to take the last gulps of air into its turbocharged 2.0-litre four-cylinder engine, distributing its 303 horsepower among all four wheels and hurtling off into the distance in one final cloud of dust.

The Evolution Final Edition, a name with more than its fair share of gravitas, will be made available to just 350 Canadian buyers, a number so low it could cement the car's future as a collector's item.

As soon as this limited-production run changes hands, it's over, save the tears.

For hardcore car aficionados, it's another sad moment in automotive history. Or, rather, the latest in a long assembly line of sad moments: The death of the manual transmission; the advent of artificial exhaust notes; the inevitable onset of the autonomous car. You get the picture.

When this generation of the Evo, the 10th, debuted in 2008, it was so profoundly good, it left even capable drivers befuddled. The thing was quick for a compact car – unexpectedly capable of chewing up and spitting out large swaths of tarmac. Or plumes of snow and ice. Or fistfuls of rock from any given gravel surface. It was your choice.

The car's torque-vectoring all-wheel-drive system, dubbed Super All-Wheel Control (S-AWC), was not only proficient at putting power to the ground, it also generated serious cornering forces. This is what threw people off, the ability of the Evo to respond with aggression to slight movements of the steering wheel and carve corners like a circular saw. In other words, it was ideal for the enthusiast, too responsive for the average driver.

"The discontinuation of Lancer Evolution was a difficult but necessary decision by Mitsubishi Motors," said John Arnone, public relations manager for Mitsubishi Motor Sales of Canada. "In recent years, it has been pretty clear that our product emphasis points to fuel efficiency and economy – that's the direction in which we're headed. Mitsubishi Motors has declared that by 2020, 20 per cent of our global production will be electric and plug-in hybrid vehicles."

The decision to discontinue the Evo does not affect the car upon which it's based, the Lancer, which will continue to be sold in Canada and elsewhere. Arnone also reports all may not be lost for the Evolution name, either. "Mitsubishi Motors is on record stating the marriage of electric or hybrid technology with a performance platform is not out of the question," he said, citing the example of the MiEV Evolution III, the prototype racer that smashed the Pikes Peak International Hill Climb record for electric vehicles in 2014.

At this year's Tokyo Motor Show, the spotlight offering from Mitsubishi continued a recent trend for the Japanese manufacturer: The eX is a compact crossover concept fitted with an innovative electric powertrain with a high-capacity battery and high-output electric motors (plural). When combined with the vehicle's lightweight construction, this powertrain enables an estimated range of 400 kilometres. The eX also features a traffic-stopping exterior shape that showcases a gargantuan X-shaped front grille.

This was just the latest electrified concept from Mitsubishi to quietly create a stir at major car shows. Two years ago, at the Tokyo Motor Show, it lifted the veil on the GC-PHEV, a large SUV concept with a plug-in hybrid powertrain. The GC was not beautiful, but it certainly was bold. Earlier this year, in Geneva, Mitsu pulled the wraps off the XR-PHEV II, a small SUV concept that is expected to go into production as the company's second road-ready plug-in hybrid, after the Outlander PHEV.

Available in Japan and Europe since 2013, the Outlander PHEV has racked up glowing reviews and strong sales. The release for the vehicle in North America has been confirmed to happen in 2016. While the Outlander doesn't showcase the striking new design language seen on the eX and XR-PHEV II, it does have a plug-in hybrid powertrain consisting of a 2.0-litre four-cylinder gas engine linked to electric motors at each axle.

With the discontinuation of the Evo and a clear theme behind its concepts introduced over the past two years, the future for Mitsubishi will look different from its past. But all may not be lost for the enthusiast with an affinity for the triple-diamond logo; Arnone said that high-performance, battery-powered production vehicles could be on their way: "Mitsubishi Motors is a global leader in electric vehicle technology, so it's not out of the question."

Until this next generation arrives, Canadians with $49,498 at their disposal, a yearning for some honest excitement and more than a little nostalgia in their hearts will have to content themselves with the 2015 Lancer Evolution Final Edition.

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