Nissan Motor Corp. announced plans Monday for an $800 million (5 billion yuan) factory in Dalian, northeastern China, with an initial output capacity of 150,000 Nissan-branded vehicles a year by 2014.
That figure would eventually rise to 300,000 annually, it added.
The plant will be Nissan’s fourth in China as it boosts production to help meet its target of selling 2 million cars a year in the country by 2015, up from this year’s goal of 1.35 million.
“China is our largest market today and will continue to be one of Nissan’s most important engines of growth,” Nissan Executive Vice President Hiroto Saikawa said.
Nissan’s plan in China with its partner, Dongfeng Group, calls for opening new factories and introducing 30 new models by 2015. The company has said it also plans new factories and other initiatives in Russia, Brazil, India and Southeast Asia.
Nissan announced an $8 billion expansion plan for China last year as part of a global strategy to focus on faster-growing emerging markets and reduce reliance on the United States.
In May, the Japanese No. 2 car maker by volume, decided to produce from 2014 two high-end Infiniti models at its Xiangyang plant in Hubei province, tapping China’s burgeoning luxury car market in an effort to revitalize the struggling brand.