Nissan Motor Co Ltd and Mitsubishi Motors Corporation have signed a contract for the establishment of a joint venture related to their minicar business. This is a 50:50 JV that will involve product planning and engineering of minicars for the Japanese market.

This is nothing new, but a development of the agreement signed in December 2010 between the two carmakers. Then, both parties said that working together “will further strengthen mutual competitiveness”. Nissan and Mitsubishi already have several OEM agreements for the domestic market, mainly for K-cars (MMC for Nissan) and commercial vehicles (Nissan for MMC), and this development is a logical step.

While the fruits of this JV will be for JDM consumption, another part of the December 2010 agreement involves us. It said that the two companies are looking at manufacturing and engineering collaboration of a new generation one-tonne pickup truck – that’s the next Navara and Triton becoming sisters. Read our previous post on that here.