UPDATE 2-Renault-Nissan expands Mitsubishi cooperation

Tue Nov 5, 2013 7:52am EST
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* Renault-Nissan deepens cooperation with Mitsubishi

* Existing venture to develop new small car and electric version

* Peugeot says Mitsubishi cooperation not threatened

By Yoko Kubota and Laurence Frost

TOKYO/PARIS, Nov 5 (Reuters) - Renault and alliance partner Nissan will deepen cooperation with Mitsubishi Motors Corp. to develop small cars and sedans, the companies said on Tuesday.

The move underscores Renault-Nissan chief Carlos Ghosn's push for savings across the alliance as well as sub-scale Mitsubishi's need for new partnerships to share costs.

Nissan Motor Co., 43.4 percent-owned by Renault, will expand a venture with Mitsubishi to develop a new small car including an electric version, while Mitsubishi will introduce two Renault sedans under its own brand.

"I welcome the direction being taken towards this broader cooperation," Ghosn said in the companies' statement, which gave no launch dates for the new vehicles.

Mitsubishi and Renault-Nissan "are also confirming their intention to share technologies and product assets related to electric vehicles and latest-generation platforms", they said.   Continued...