Nissan Motor Co. and Mitsubishi Motors Corp. has agreed to set up a joint venture that will focus on planning and product development of miniature cars. This step is a continuation of their agreement in December 2010.
"This is a collaboration to expand the scope of cooperation between the two companies", Nissan said, as quoted Autoevolution, Monday, May 23, 2011.
However, this joint venture will face a challenge from Toyota Motor Corp. has also announced the entry in the mini car market at the beginning of this year.
Unfortunately, Nissan does not mention details about this project. However, the news developed, Nissan and Mitsubishi will begin producing this mini car in 2013.
Nissan predicts in the near future minicar segment will increase and reach half of the market share. In the past year, 20 percent backed by Nissan's minicar sales.
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