Nissan Motor Co. and Nissan Diesel Motor Co. will set up a joint venture this fall to develop light trucks as part of their efforts to attain a bigger share of the global truck market, the automakers said Monday.
The new company will be capitalized at about 15 billion yen, with Nissan taking an 85 percent stake. It will have about 140 employees.
The deal is expected to help the two companies compete in the market for small trucks and further penetrate the global light-commercial-vehicle market, which is expected to grow rapidly, officials from the two companies said.