Mitsubishi Motors Partners with Nissan to Expand North American Pickup and Japanese Kei Car Market

Mitsubishi Motors announced on Friday that it will jointly promote a pickup project with Nissan Motor in the North American market, and at the same time, collaborate on the joint development and production of Kei-class microcars in the domestic Japanese market. The Kei models will cover both fuel and pure electric power forms.

This cooperation is one of the core elements of Mitsubishi's new medium-term management plan. Mitsubishi Motors plans to invest about 1 trillion yen, aiming to achieve an operating profit of 160 billion yen in the fiscal year of 2029, an operating profit margin of 4.5%, and a return on equity of 10%.

The deep binding between Mitsubishi and Nissan has a long history. As early as 2016, Nissan acquired about 34% of Mitsubishi Motors' shares, and both parties belong to the Renault-Nissan-Mitsubishi Alliance. The synergy in the two major segments of pickups and Kei cars is seen as a pragmatic move to further integrate resources and reduce costs within the alliance.