Nissan to open another factory in China, to export from China!

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From Auntie:

Nissan is to open another factory in China as it seeks to extend its recent growth in one of the world’s most competitive car markets.

The Japanese carmaker will team up with its joint venture partner, China’s Dongfeng Motor Group, to construct a $145m plant in Henan province by 2010.

The factory, Nissan’s fifth in China, will have the capacity to produce 120,000 vans and goods vehicles.

The joint venture will also increase the number of Nissan-branded cars made.

‘Strong position’

Ten new Nissan vehicles 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.

Nissan and Dongfeng Motor Group each hold a 50% stake in the business.