Nissan Motor and Mitsubishi Motors have started production of a jointly developed minicar model at Mitsubishi’s Mizushima plant in Okayama, Japan.
The new model has been developed in a joint venture called NMKV which they will start selling in Japan from June.
Planned to be sold under brand names of Nissan DAYZ and DAYZ Highway STAR, and the Mitsubishi eK Wagon and eK Custom, the model will be first minicar to be rolled out by the joint venture since its formation in 2011.
The new model has been developed leveraging the strength of both companies to meet demand for cheap and smaller vehicles in the country.
The new model will offer enhanced fuel economy and feature touch-screen automatic air-conditioning system as well as sport high-quality interior.
Nissan CEO Toshiyuki Shiga said that the new minicar jointly planned and developed by NMKV, a Mitsubishi and Nissan joint venture will combine expertise of both companies while maintaining individuality of each brand.
"Three companies will continuously work together so that Mitsubishi, Nissan and NMKV will lead the minicar market in Japan," Shiga said.
Mitsubishi president Osamu Masuko said, "Through the cooperation in minicar business, we enjoy the volume merit, maximize the synergy effect by adopting each other's know-how and experiences in the process of development and production, and have createdthe product which is competitive enough to competitors taking a lead in the market."
The JV is developing a super height wagon-type minicar as its second model which is scheduled to go on sale from 2014.
