Nissan's Chinese joint venture aims at 1 million vehicle sales annually in 2012

Japanese automaker Nissan Motor Co is expecting to reach a turnover of $14.5 billion in 2012 in China by selling 1 million cars and trucks annually  in the country. The company through its joint venture Dongfeng Motor Co plans to introduce a range of new models in a bid to capture a bigger share in the world's fastest growing market in the world. The JV has sold  610,000 units in 2007.

The new models would include around 10 passenger car under the Nissan brand and more than five new light commercial vehicles under both the Nissan and Dongfeng brands, the company stated.

The company plans to invest around $145 million for a new commercial vehicle plant with a production capacity of more than 120,000 units a year. According to Nissan, the plant will be constructed in Zhengzhou, northern China and production will start in 2010.

Dongfeng will also expand its dealerships on mainland China. The ventures plan to export 32,000 commercial vehicles a year by 2012, which will up the export ratio to 10 per cent rom 5 per cent in 2007. The vehicles will be sold in emerging countries including  Southeast Asia and the Middle East. Nissan said.

Dongfeng Motor Company Limited is a joint venture between the Dongfeng Motor Corporation and Nissan Motors, which sells Nissan brands such as the Nissan Sunny, Nissan Bluebird, Nissan Teana, and Nissan Tiida  in China.

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