The first sedan would compete in the full-size segment, while the second would compete in the mid-size segment.
The automakers will also expand the existing NMKV joint-venture company to develop a new compact car including an electric version that could be sold globally. The vehicle would be based on the "Kei car" platform popular in the Japanese market. Nissan and Mitsubishi launched NMKV in 2011. NMKV has produced the Nissan Dayz and Mitsubishi eK wagon, which went on sale in Japan this year.