Nissan Motor and Mitsubishi Motor and their joint venture NMKV have reached an agreement to continue their project on development of next-generation minicars.
NMKV was established in June 2011 as an entity which specializes in planning and development of minicars. By September 2015, the total vehicle produced under the collaboration reached 5,00,000 units, denoting the success of the venture.
In the new Memorandum Of Understanding (MOU) that is yet to be signed, the companies aim to develop more competitive products by optimizing resource allocation and their respective roles and responsibilities. To this effect, Nissan will be more involved in operations such as design development and testing as well as product planning and project development. NMKV will look to cement its management capabilities by adding a new department in order to enhance collaboration with engineering and manufacturing functions. Mitsubishi will chip in by making its Mizushima Plant available for production.
There is also a confirmation of work being done on the development of a minicar EV (Electric Vehicle), further details of which will be made available at a later stage.
This is what NMKV President and CEO Junichi Endo had to say on the occasion: “This new agreement shows that our efforts are making steady progress and thus the collaboration will further deepen. We are taking the lead in this project by combining Mitsubishi’s know-how in minicar development and manufacturing with Nissan’s technologies.”