The Japanese automaker Nissan and its Chinese partner Dongfeng Motor to launch a new car brand in China next year, “Venucia” (“Qi Chen/启辰” in Chinese). Five vehicles, including a 100% electric car, will be made under this brand with the goal of reaching 300,000 sales in 2015.
Nissan today announced a new strategic plan for five years in China. The joint venture in China between Dongfeng Motor and Nissan will invest 50 billion yen (about $ 8 billion) over the term of this strategic plan, the objective is to increase production capacity from 1.2 million to 2.3 million vehicles. Thirty launches are planned over the next five years. Nissan hopes to sell in China 2.3 million vehicles in 2015 compared to 1.2 million in 2011.
“This new plan, with its capacity of investments in products and innovation, will ensure that China remains the largest market for Nissan,” said the CEO of Nissan and Renault, Carlos Ghosn.
These objectives are part of the Strategic Plan of 2011-2016 which aims to recover the operating margin to 8% by the end of fiscal 2016-2017, knowing that the margin is expected to fall on the current year to just less than 5% against 6.1% in 2010-2011.
Nissan hopes to meet a global market share of 8% by 2017, which represents very strong growth compared to 5.8% in 2010-2011. Market share in China would at the same time from 6.2% to 10%.