Dongfeng Nissan JV to launch 15 new models by 2012

Shanghai, May 29 (Gasgoo.com) Dongfeng Motor Co, a joint venture between Nissan and its Chinese partner Dongfeng Motor, announced an ambitious 5-year business plan to launch 15 new vehicle models in the next five years, China Daily reported today.

"We will add 10 passenger car models and 5 commercial vehicles in the period, and through this product offensive we aim to lift sales to 1 million units and sales revenue to 10 billion yuan (US$95.7 million) by 2012," Kimiyasu Nakamura, president of Dongfeng Motor Co., told the plans to reporters in Beijing yesterday.

Nakamura also announced that the joint venture automaker will open a 1 billion yuan ($144 million) LCV (light commercial vehicle) plant to underpin its lagging commercial vehicle unit.

The plant will be built next to Dongfeng Motor's existing subsidiary, Zhengzhou Nissan, which currently produces mainly pick-up trucks and SUVs in Henan Province. The new plant is expected to come on stream in 2010 and to raise the local annual capacity to 160,000 units by 2012.

The venture plans to export 32,000 commercial vehicles a year by 2012, double last year's tally, Nissan said. Last year the JV automaker sold 610,000 passenger and commercial vehicles together in China.