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.