Mitsubishi Motors Europe and Pininfarina have reached an agreement to build a third Colt variant, the convertible.

The contract signed yesterday at Mitsubishi Design Europe in Trebur, Germany by Tim Tozer, president & CEO of MME and Andrea Pininfarina, CEO of Pininfarina covers the design and development of the Colt convertible and its production at the Pininfarina plant in Turin starting early 2006.

Only being developed for Europe, the convertible will be the direct successor of the CZ2 Cabriolet concept, designed at Mitsubishi Design Europe and unveiled at the 2003 Geneva Motor Show.