Monday, Jan. 17, 2005 | 9:25 a.m.
TOKYO -- Mitsubishi Motors Corp., which has been seeking partnerships to bail itself out of its deep financial woes, will supply minicars to Nissan Motor Co., both sides said today.
Tokyo-based Mitsubishi Motors will supply 36,000 minicars a year to Nissan starting in the first half of fiscal 2005, which begins April 1.
Nissan and Mitsubishi had said they were talking about a possible tie-up, and the deal was not a surprise. Nissan, which does not make its own minicars, now gets minicars from Suzuki Motor Corp.
Minicars are too tiny for many parts of the world, but they are extremely popular in Japan as a cheap way of getting around crowded streets.
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