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Nissan to set up RMB 5 bln JV in Dalian

Jun. 15, 2012 (China Knowledge) – Nissan Motor Co, Japan's No. 2 automaker by volume after Toyota Motor Corp, plans to set up a new plant in Dalian, Liaoning Province, to expand its business in China, sources reported.

With a total investment of RMB 5 billion, the new plant will be co-owned by Nissan Moto Co and its Chinese joint-venture partner Dongfeng Nissan Auto Co.

The new plant will put into operation in 2014 with an initial annual production capacity of 25,000 units, and by 2017, the annual output capacity will be enlarged to 240,000 units.

This plant will produce Nissan's high-end SUV, sedan and MPV, said someone familiar with the matter.

Last year, the Japanese automaker saw its auto sales in China increased 21.9% YoY to 1.25 million units. By the end of 2015, the company aims to double its auto sales in China to about 2.3 million units.

Nissan has plans to invest up to RMB 30 billion in China by 2015.

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