Mitsubishi Motors Corp. President Osamu Masuko said Wednesday the automaker will develop new minivehicles, including an electric version, for the global market through its newly announced collaboration with the Renault-Nissan Alliance.

"We feel minisize electric vehicles will be accepted well in the market," Masuko said at a news conference in Tokyo announcing MMC's midterm business plan. "We'd like to develop new minicars for our international strategy through the alliance."

Mitsubishi Motors and the Renault-Nissan Alliance jointly announced Tuesday they will consider collaborating on new projects covering products, technologies and manufacturing capability.