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Nissan Motor, Dongfeng Group plan to invest $8 bln in China

Automobile companies Nissan and Dongfeng plan to invest $8 billion and launch 30 vehicles in China over 5 years to increase sales
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Nissan Motor Co and its Chinese partner Dongfeng Group have decided to invest $8 billion and launch 30 vehicles in China over 5 years to double sales, Economic Times reported.

Nissan CEO Carlos Ghosn said, “The new plan, with its investment in capacity products and innovation, will ensure that China continues to be Nissan’s largest global market.”

Both the automobile makers plan to build new auto factories and expect annual sales in China of 2.3 million vehicles by 2015,  up from 1.3 million vehicles last year.

Nissan also plans to expand its foot print by adding new production facilities in eastern China to make light commercial vehicles.
A new Nissan factory for passenger vehicles is due to open next year in Guangzhou in southern China, and a factory to make commercial vehicles is due to open this year southwest of Shanghai.

China is the world's largest auto market by vehicles sold, with sales of just more than 18 million last year, a jump of 32% over 2009.
Global auto makers are looking to China and its relatively robust growth to drive sales amid weak demand in the United States, Europe and Japan.

Nissan has become the second largest car manufacturer in 2011 and it produces a range of luxury models branded as Infiniti.

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