Mitsubishi Motors and Nissan have announced their plans to work together, in a fifty-fifty venture, on a new electric car.
The rival Japanese manufacturers will join forces to develop a small, low-cost electric vehicle (EV) likely to hit the Japanese market in 2016.
Currently, the Mitsubuch i-Miev (below) is the cheapest passenger EV on the Japanese market priced at ¥1.78 million, after incentives are taken into account. However, together Nissan and Mitsubishi say they are aiming to beat this with a price of around ¥1.5 million, subsidies included. At the current exchange rate that works out around £8,775.
The new EV, still yet to be named, will initially be launched in Japan with no confirmation on plans for European distribution.
Even if the car does not enter the European Market, the joint venture will undoubtedly have a effect on the rest of the EV industry, helping to reduce component costs and making electric cars more affordable.
Nissan is the world’s largest manufacturer of electric vehicles and has sold over 124,000 Nissan LEAFs, including 3,845 in the UK, since its release in 2010.
Mitsubishi are also experiencing success with the the Outlander PHEV, especially in the UK. Released in April, the Plug-in hybrid SUV outsold all other EVs available in the UK in July, boasting 43% of successful Plug-in grant applications.
Transport Evolved, Nikkei