Thursday, May 29, 2008

Nissan to build new plant for export from China

Nissan Japanese carmaker will team up with its joint venture partner, China’s Dongfeng Motor Group, each hold a 50% stake in the business to construct a $145m plant in Henan province by 2010.

The new plant is Nissan’s fifth in China, will have the capacity to produce 120,000 vans and goods vehicles. and Dongfeng Motor will also increase the number of Nissan-branded cars made.

Ten new models of Nissan will be launched as part of a target to raise total annual production by the joint venture business, Dongfeng Motor, from 610,000 vehicles to 1 million by 2012. Since being established in 2003, the business has proved an effective springboard for Nissan to grow its brand in China, where there is fierce competition among foreign operators.

Nearly 460,000 Nissan vehicles were sold in China last year, up from 94,000 units in 2003. By 2012, Nissan plans to raise its own-brand sales to 800,000.

Dongfeng’s investment programme will see it boost the number of car dealerships it operates and double its share of exports.

“Our goal is to build and maintain a strong position in the Chinese markets,” said Kimiyasu Nakamura, the firm’s president.

[Source : China Car Times]


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