Nissan and Mitsubishi announced a new joint venture today, notably involving a minicar project that will see Nissan’s engineering prowess and Mitsubishi’s small car expertise utilized in to give greater market share to both companies in markets outside North America.
The first salvo of products will include a Nissan-built van to be sold as a Mitsubishi in Japan, while Mitsubishi will build a Nissan badged SUV for the Middle East market. The upcoming minicar will compete in a segment that comprises a third of Japanese new car sales, and has increasing demand in many developing markets.
“In the global auto industry, cooperation on specific projects among automakers is becoming increasingly common,” Ghosn said at a press conference announcing the venture.”It is, in fact, a signal of how our industry is evolving to sustain success over the long term, by leveraging size, scale and investments more effectively to create more value.”
[Source: The Detroit News]