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Infiniti to not build cars in China; at least for now

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Infiniti to not build cars in China; at least for now

After a long series of rumors, on Thursday, Infiniti China has officially announced that for the moment there are no plans to produce cars in China.

However, back in November a Nissan spokeman said “We again consider the production in China”.

Infiniti’s CEO Toru Saito announced in 2009 that the possibility of producing in China is not an impossibility but the Chinese market has not yet put forward the perfect opportunity for the luxury brand.

In addition, producing cars in China will help Nissan to avoid yen’s fluctuations. Autonews reports that the new JX seven-seater crossover will be built Stateside, while the new Etherea Concept-based luxury hatch will be put together in Europe.

Calling the Japanese currency “artificially strong,” Ghosn reiterated his call on the Japanese authorities to take action against the appreciation of the yen, noting how Switzerland conducted unlimited intervention in the currency market to stem a similar upsurge of the Swiss franc against its major counterparts.

At this point, the yen is currently at 78 to the dollar, but was 83 a year ago and 90 at the end of 2009.

The Japanese luxury brand wants to increase global sales to 500,000 units by 2017, from about 150,000 today.

by Mircea Serafim (my Google+) - Thursday, January 5th, 2012 - filed under Industry, Infiniti, News. Image credit: Infiniti.
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