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Nissan and Mitsubishi Motors agreed on the joint development in December 2010 and set up NMKV in 2011, as a part of their attempt to expand their cooperation amid intensifying competition and catch up with Daihatsu Motor Co., Suzuki Motor Corp.
''We'd like to lift the share at least to 20 percent'' in the minivehicle market from the current combined share of around 15 percent, said NMKV President and Chief Executive Officer Junichi Endo at a news conference.
NMKV's joint project to develop minicars for the Japanese market is part of an agreement to expand the scope of cooperation between Nissan and Mitsubishi Motors that the two companies announced in December 2010.
Through NMKV, Nissan and Mitsubishi Motors will continuously strengthen their highly-competitive minicar lineups, reflecting the strengths of both companies in the areas of product planning, development, design and purchasing.
Tokyo, June 20, 2011 - (JCN Newswire) - NMKV Co., Ltd, a new joint venture formed by Nissan Motor Co., Ltd.
NMKV Co., Ltd is based in Takanawa, Minato Ward, Tokyo.
The establishment of the NMKV Co., Ltd is part of the project to expand the scope of business collaboration that the two companies agreed to in December 2010.
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