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Nissan and Mitsubishi Motors to establish JV for minicar business

Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation signed a contract for the establishment of a joint venture related to their minicar business in the Japanese market.

The establishment of the joint venture was part of an agreement signed in December 2010 to expand the scope of cooperation between the two companies. The two companies will strengthen their competitiveness in the minicar business through this joint venture.

Planned date of establishment of the JV is 1 June 2011. Each company will own 50% of the entity.

Comments

HarveyD

This is a very interesting JV for future micro/mini (ICE) cars and micro/mini BEVs.

Why re-invent the wheels more often than required.

SJC

Mitsubishi could really use this deal and it frees up Nissan resources for other efforts.

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