Nissan and Mitsubishi have 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.
According to the contract, roughly 10 million yen will be spent on product planning and engineering of minicars. The main board members are CEO Junichi Endo and COO Shinichi Kurihara.