MIVEC stands for Mitsubishi Innovative Valve-timing and Electronic Control.
It's a variable valve timing system as seen in the original Honda VTEC performance engines as well as Toyota's VVTi system, seen in Toyota's new engine range (they've got it in every model I've seen from the Corolla to late model Soarer and Supra... even Tarago).
V-Tec and Mivec and the Nissan Variable Valve Timing systems are very similar...the Toyota 20v system as seen on the 4age 20valve motor is inlet only timing and can only change the lift on the inlet cam...but then you will see the VVT-i on the new Celica and RAV-4 and Lexus's and stuff and these are a much improved version of what they had and just about the same as Honda's V-Tech and Nissan's system... all with the ability to control the lift and duration on both the inlet cam and exhaust.
I would think you can get these engines in the US - a friend of mine in Sydney has recently put a Mivec engine into his Galant (JDM, 7thG like mine). From memory, the Mivec was standard in the FTO of the same year too (1994+).
I read somewhere that the Mivec has 22Kw more power (standard) than my engine.
HTH
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