Nissan Motor, Daimler Reportedly Agree To Create Mexico JV

(RTTNews) - Japanese automaker Nissan Motor Co. (NSANF.PK, NSANY.PK) and Germany's Daimler AG (DDAIF.PK) agreed to create a 50-50 joint venture in their auto operations in Mexico, according to media reports, citing people familiar with the matter. Talks on specific initiatives are still ongoing between the companies and the Mexican government, the people said.

Nissan Motor and Daimler have started preparing the ground for a joint manufacturing venture in Mexico that could produce small, upmarket cars for their respective Infiniti and Mercedes-Benz brands, according to reports.

Under deal, the automakers would oversee potential projects, such as joint vehicle production, the people said, who asked not to be identified because the discussions are private.

Daimler and Nissan have been negotiating the extent of their future Mexican venture for over a year, reports added.