Renault + Nissan + Mitsubishi?

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First there was Renault. Then Nissan (NASDAQOTH: NSANY  ) . Now, the global car alliance that began with Renault-Nissan in 1999 may get even bigger.

On Tuesday, Renault-Nissan announced that they have begun exploring ways to cooperate more with Japanese carmaker Mitsubishi (NASDAQOTH: MSBHY  )  on "several new projects covering shared products, technologies and manufacturing capacity."

Specifically, Mitsubishi will consider deriving two new sedan models for its own brand name, based on existing Renault vehicles. One such sedan would be a full-size model and the other midsize.

Meanwhile, fellow countrymen Nissan and Mitsubishi may work through their existing NMKV joint venture company to co-develop a new small car, which would also have an all-electric version. These hypothetical vehicles would be developed from the companies' jointly developed small car ("Kei car") designs, which include the Nissan Dayz and Mitsubishi eK wagon.

Both companies currently have all-electric -- as well as traditional internal combustion engine -- car offerings. Nissan's Leaf all-electric vehicles have encountered some sales success. Mitsubishi's iMiev, somewhat less.

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9/26/2016 3:59 PM
MSBHY $42.62 Down -0.70 -1.62%
NSANY $20.09 Down -0.23 -1.11%
Nissan Motor CAPS Rating: ****