A Chrysler-Mitsubishi venture may be upcoming.

According to a report in the Detroit News, Chrysler plans this week to announce a joint production venture with Japan’s Mitsubishi to build more than 150,000 small cars annually in the United States. The newspaper quoted unnamed sources as saying the companies would each pay half of the project’s estimated cost of $400 million. Mitsubishi would manage the plant, which could be located in Kentucky, Ohio, Indiana or Illinois. Chrysler Chairman Lee A. Iacocca is now in Japan and is due to hold a news conference in Tokyo on Wednesday. A Chrysler spokesman said the report “at this point . . . is all speculation.”