Nissan to Set Up Car Production Joint Venture in China

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Last updated at: (Beijing Time) Thursday, May 09, 2002

Nissan to Set Up Car Production Joint Venture in China

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Japan's automobile production giant Nissan Motor Co. will join hands with major Chinese automaker Dongfeng Automobile Co. to set up a holding company in fiscal 2003,a major Japanese business daily reported Thursday.

The Nihon Keizai Shimbun (Nikkei) said that Nissan and Dongfengwill sign an agreement around June on establishment of the joint holding company, which will be equally owned by the two sides.

Passenger car makers and auto parts suppliers in the Dongfeng group, including Fengshen Automotive Co., will come under the holding firm, the Nikkei said.

Nissan will jointly produce with the group firms minibuses, as well as three cars -- the Cefiro, Sunny and March, the newspaper said.

It will initially produce a total of 50,000-100,000 units of the three automobiles and the minibus, raising the figure to 150,000 in three years, the Nikkei added.

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