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Nissan, Mitsubishi Establish Joint Venture for Minicar
In brief: Nissan and Mitsubishi have signed a contract to establish a joint venture (JV) related to minicars in the Japanese market.
The JV is the next step in the agreement signed in December 2010, expanding the scope of cooperation between the two automotive companies. Their plan is to mutually strengthen their competitiveness in the minicar market in Japan.
The two will likely work together on new concepts and production models, such as the pictured Nissan Townpod concept that debuted a couple of years ago.
The new venture will officially establish on June 1 and be 50% owned by each company involved.
And so ...
The minicar market in Japan is growing quickly as these cheaper, more city-friendly alternatives catch on with the younger generation.
Photo credits: Nissan
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