In order to create more cars for the growing minicar market in Japan, Nissan Motor Co., Ltd and Mitsubishi Motor Corp. are collaborating to create NMVK Co. Ltd. Operational as of June 1, the new venture will be in Tokyo, with 35 employees.
The companies will be combining the minicar engineer and product-development, and parts sourcing. Nissan, along with Renault SA is exploring the possibilities of further developing their battery-electric vehicles. These plans are well back by Mitsubishi, which is already planning is future with electric vehicles.
“More than a third of new car sales in the Japanese market come from the minicar segment as the demand for smaller cars and eco-cars remains strong,” Nissan said in a statement. “This new joint venture for minicar development will enable Nissan to continue development of products that reflect Nissan’s DNA at the design and product planning phases. The JV will benefit Mitsubishi by supplying highly-competitive products to its product line-up and by offering increased economies of scale advantages through Nissan’s purchasing capacity.”
– By: Alexandra Koken