The companies announced yesterday that they are going to create a 50-50 structure to develop mini-cars with combustion engines no larger than 660cm ³ also called Kei Cars
According to the agreement the Kei car will be available in 2012. Also, Nissan will supply a light van and a wagon to Mitsubishi for the Japanese market, in exchange of one SUV for the Middle East.
The obvious purpose of this cooperation: economies of scale and market penetration at reduced costs.
“This agreement is important for Nissan as it supports our expansion in emerging markets, meets immediate
capacity needs overseas and enables us to grow our minicar business in Japan,” Nissan CEO Carlos Ghosn.
“The expansion of the agreement will complement each other's regional characteristics and product lineup and the one- ton pickup and minicar projects will be the best solution to strengthen each other's competitiveness,” Mitsubishi Motors CEO Osamu Masuko.