Nissan Motor Co., Nissan Diesel Motor Co. and Daimler Benz AG announced Monday that they have reached an agreement to jointly develop a light commercial vehicle for the worldwide market.
The agreement is the first one to bear fruit since the three firms revealed in May plans for cooperative business tieups.
"This cooperation will be an important step toward expanding our commercial vehicles business in the Eastern Hemisphere. It will be an integral part of the Daimler-Benz Asia strategy," Daimler-Benz Chairman Jurgen E. Shrempp said in a statement.