Nissan Motor Co. said Friday it will develop an electric minivehicle with Mitsubishi Motors Co. with an eye to selling it from fiscal 2015.

Mitsubishi Motors currently sells the i-MiEV electric minicar, buts sales have been sluggish due to a lack of infrastructure, such as charging stations, its relatively short range per charge as well as its price.

Nissan, the maker of the Leaf EV, and Mitsubishi Motors set up a joint venture, NMKV Co., which last June launched two minivehicles, sold as the Dayz series by Nissan and the eK series by Mitsubishi. The companies will develop the new electric minivehicle based on the Dayz series, Nissan said.

Nissan Executive Vice President Takao Katagiri told a press conference at Nissan headquarters in Yokohama that in order for the new electric minicar to gain a competitive edge, "We will have to cut costs and extend its driving distance per charge."

The automakers have yet to decide the price and the countries where it will be sold.