In a joint statement released on Thursday, Nissan's Infiniti luxury brand and Austrian auto manufacturer Magna Steyr announced that they have signed a memorandum of understanding for the assembly of a new Infiniti premium compact model.
Infiniti said that production of its new entry-level model is slated for 2014 and it will be sold in key markets around the world including Western Europe. The Japanese automaker did not say if it will offer the car in North America.
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