Nissan, Mitsubishi establish NMKV minicar joint venture

26 June 2011 - Nissan and Mitsubishi announced the official establishment of a 50:50 joint venture related to their minicars sold in the Japanese market. The establishment of this joint venture builds upon an earlier agreement, signed in December of 2010, to expand the scope of cooperation between the two automakers.

Officially, the joint venture won't be established until June 1, 2011. Currently, capital set aside for the JV is listed at a paltry 10 million yen. NMKV is based in Takanawa, a neighborhood of Tokyo, Japan.

NMKV aims to to unite the strengths of Nissan and Mitsubishi in the areas of vehicle engineering, development and parts sourcing. Mitsubishi and Nissan already collaborate on some vehicles, including the Mitsubishi Lancer Cargo, Minicab, Town Box, eKWagon and Pajero Mini models. However, there seems to be some indication that the Nissan-Mitsubishi JV could collaborate on, and eventually launch, a battery-powered electric city car.

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