Japan's Mitsubishi Motors said Friday it would start in early 2005 production of a next-generation four-cylinder engine family jointly developed with German-US giant DaimlerChrysler and Hyundai of South Korea.
The fourth biggest Japanese carmaker will initially invest more than ?10 billion (US$90 million) in the "World Engine" project at its plant in Shiga, central Japan, Mitsubishi Motors Corp said in a statement.
The plant's floor space will be increased by 12,000m2 to 67,000m2 by the middle of next year for production of the new engines scheduled to begin in early 2005.
The first Mitsubishi cars powered by the new engines will roll off the assembly line in Japan in 2005, the statement said.
In May of last year, Mitsubishi, its biggest shareholder DaimlerChrysler AG and Hyundai Motor Co announced their alliance in jointly designing and developing a family of four-cylinder engines.
The joint project is aimed at dispersing developmental costs and boosting the cost effectiveness of the three companies.
Mitsubishi is owned 37 percent by DaimlerChrysler, which also owns a 10 percent stake in Hyundai.
The four-cylinder aluminum engines will be produced in three sizes -- 1.8, 2.0 and 2.4-liter displacements -- and provide improved performance and fuel efficiency, the statement said.
DaimlerChrysler plans to begin producing the new engines in 2005 at a plant in Dundee in the US state of Michigan, the statement said.
Total annual output of the engine family is estimated at more than 1.5 million units, the statement said, and it will "become one of the highest-volume engine families in the world."
MMC is expected to produce some 400,000 units, a company official said.
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