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Mitsubishi Motors Corporation(MMC) and Volvo Truck Corporation(VTC) have
signed a memorandum of understanding concerning sales of Mitsubishi light
duty trucks, development and production of medium duty truck and supply
of Volvo Trucks heavy duty driveline components to Mitsubishi Motors.
This is the result of the feasibility study which was initiated in December
1996.
The cooperation between Mitsubishi Motors Corporation
and Volvo Truck Corporation covers three areas:
Starting in January 1998, Volvo Trucks will begin selling
the Mitsubishi-badged Canter light duty truck series (GVW 3.5-7.5 ton),
currently produced by Mitsubishi Trucks Europe (MTE) in Portugal, via
Volvo's dealership network for the markets in U.K., France and Italy.
Mitsubishi Motors and Volvo Trucks will conduct an in-depth feasibility
study with the aim to develop and manufacture medium duty trucks(GVW
7.5-18.0ton), while retaining their own distinctive brand profiles.
Sales is planned to be handled via each company's respective
distribution network. As a first step the Volvo version is aimed to
be available for Europe only.
Furthermore, a study is currently underway to explore
the possibility of supplying Volvo components, such as gearboxes and
rear axles, for installation in Mitsubishi's heavy duty truck range.
Dr.Hirokazu Nakamura,Chairman of the board, MMC and Mr.Karl-Erling Trogen,
President & CEO of VTC said following in a joint statement :
"This cooperation, along with the close cooperation in
the area of passenger cars, signifies unification or our joint resources
so as to further enhance the competitiveness of our products in the long
term.
This cooperation will offer us essential economics of scale and a synergetic
effect on resource availability, so that we are ready to tackle an increasingly
competitive market which imposes stringent demands on quality, safty,
environment,performance and economy."
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