Nissan, Mitsubishi Motors announce new OEM model

TOKYO: Nissan Motor Co and Mitsubishi Motors Corp announced on Thursday an expansion of their original equipment manufacturing (OEM) agreement to include a high-end sedan that had been under consideration under their broad operational tie-up.

Nissan will provide a Mitsubishi-badged luxury sedan based on its Fuga model from the summer of 2012, they said in a statement. The Japanese automakers will also consider a deal under which Mitsubishi would build the electric Minicab-MiEV commercial van for Nissan, they said.

Nissan and Mitsubishi deepened their cooperation late last year in an effort to share technology and resources.