Nissan and Mitsubishi Motors Sign Contract for Establishment of Joint Venture for Minicar Business

Main May 20, 2011 | Auto-Press.net A- A+ 14010 views | no comments

YOKOHAMA/TOKYO (May 20, 2011) - Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation today announced that the two companies 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.

Outline of New Joint Venture
Date contract agreement: May 19, 2011
Date of establishment: June 1, 2011 (Planned date)
Capital: 10 million yen
Capital structure: Nissan : 50% Mitsubishi : 50%
Business description: Product planning and engineering of minicars for the Japanese market
Main board members:
CEO (Chief Executive Officer): Junichi Endo
COO (Chief Operating Officer): Shinichi Kurihara