Nissan's China unit to build new $784 mln auto plant

Japan's Nissan Motor said on Monday that its joint venture with China's Dongfeng Motor Group would spend up to 5.0 billion yuan ($784 million) on a new plant in China, the world's biggest car market.

The new plant in the northeastern city of Dalian is scheduled to begin producing Nissan-brand passenger vehicles in 2014, with an annual capacity of 150,000 units, the Japanese firm said in a statement at a groundbreaking for the factory.

That figure would eventually rise to 300,000 annually, it added.

The investment is part of Nissan's efforts to meet its target of selling two million cars a year in China by 2015, it said.

"China is our largest market today and will continue to be one of Nissan's most important engines of growth," Nissan Executive Vice President Hiroto Saikawa said.

Nissan currently has several plants in southern and central China.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • Ayungin dilemma Ramon Casiple - Parallaxis
    Ayungin dilemma

    China faces a dilemma in Ayungin Shoal and other contested areas. If it waits for the ITLOS—which may decide against it—it would have tacitly bound itself to UNCLOS and risk a rogue state reputation if it asserts its claim in the South China Sea. If its militarily acts now, it may face international isolation. …

  • 48 nabbed in biggest anti-trafficking catch in Bongao VERA Files - The Inbox
    48 nabbed in biggest anti-trafficking catch in Bongao

    By Jake Soriano, VERA Files Bongao, Tawi-tawi—A team of Marines and policemen intercepted around noon Thursday 48 people, 12 of them minors, believed recruited by a human trafficking syndicate for work in Malaysia. The arrest constitutes what advocates called the … Continue reading → …

  • Docs vow to pay right taxes, make peace with BIR VERA Files - The Inbox
    Docs vow to pay right taxes, make peace with BIR

    By Kiersnerr Gerwin Tacadena, VERA Files Leaders of the medical profession have made peace with their former adversary, the Bureau of Internal Revenue (BIR), and joined forces in a campaign to get doctors to pay the right taxes. BIR Commissioner … Continue reading → …

POLL
Loading...
Poll Choice Options