[UPDATE: Mitsubishi Motors Malaysia has launched the new Lancer. Click here for more details on the fully imported Lancer 2.0 GT that’s available in Mitsubishi showrooms now.]

Mitsubishi Motors has released details on it’s new 2007 Mitsubishi Lancer, set to make it’s global public premiere at the 2007 North American International Auto Show (the Detroit Motor Show) at the Cobo Center in Detroit.

The new Mitsubishi Lancer is based on Mitsubishi’s new GS Platform, which is also the underpinings for a few other models like the latest Mitsubishi Outlander as well as the Dodge Caliber, Jeep Compass and others. The new Lancer is larger than the current model, with an overall length of 4570 mm (35 mm longer), overall width of 1760 mm (65 mm wider), overall height of 1490 mm (60 mm taller) and wheelbase of 2635 mm (35 mm longer).

The engine for the American market version will be from a new family of engines by Global Engine Manufacturing Alliance, a joint venture between Mitsubishi, DaimlerChrysler and Hyundai. The new 4B11 engine, also used in the new Dodge Caliber, is a 2.0 litre DOHC 16 valve engine with MIVEC variable valve timing, making 152hp, mated to a 5-speed manual transmission. There is also an optional CVT transmission with a 6-speed virtual gear mode called Sportronic(R). Cogs can be swapped via magnesium paddle shifters on the steering wheel.

The European version will come with 5 engine options, including a 140hp 2.0 litre common rail turbodiesel from Volkswagen AG. The performance Evo version is not out yet, but it’s expected to be powered by a 4B11T 2.0 litre MIVEC Turbo making over 300 horses equipped with a dual-clutch gearbox. Dodge used a different approach with it’s Caliber SRT-4, turbocharging the 4B12 2.4 litre instead. Rumours are that the Lancer Ralliart is also expected to come with a turbocharged engine, detuned to position it between the 2.0 MIVEC and the Evo’s 2.0 MIVEC Turbo, or it might just use the 172hp 2.4 litre 4B12, up from the current Ralliart’s 2.4 litre 4G69 SOHC making 160hp.

More photos after the jump.