The Renault-Nissan alliance and Mitsubishi Motors Corp. said Tuesday they will expand cooperation in developing new vehicles, including small cars and full-size sedans.
The announcement follows a reshuffle of Nissan leadership last week that Carlos Ghosn, president and CEO of the Renault-Nissan alliance, said was needed to shape up the
automaker's sagging performance.
Nissan Motor Co., Japan's second-largest automaker, and Mitsubishi will develop a new small car through their existing joint venture, to be sold globally, including an electric version. The car will be based on the "kei car" platform popular in Japan, the companies said in a statement.
The joint venture, NMKV, was set up in 2011 and is selling Nissan Dayz and Mitsubishi eK Wagon mini-cars made in Japan.
"Nissan and Mitsubishi Motors have jointly benefited from several collaborations in the past, most recently the successful joint venture on 'kei' cars in Japan," Ghosn said.
