Mitsubishi Motors has denied a report that, with its main shareholder DaimlerChrysler, it will jointly develop a minicar to be marketed by 2006 in Japan and Europe, according to CBS Marketwatch. According to the report, the Nihon Keizai Shimbun newspaper said on Tuesday that the two companies are aiming to mass produce a minicar for the market in Europe, where demand for smaller, fuel-efficient vehicles will grow due to strict environmental regulations.