Nissan has said it will set up a joint venture in Vietnam with Denmark-based car distributor Kjaer Group to boost sales there.
Nissan Vietnam LLC will be capitalised at US$10m, with 26% owned by Nissan and the remaining 74% by Kjaer.
Nissan last year sold 518 vehicles through the Kjaer subsidiary, up from 175 units the previous year.
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”Vietnam is a promising new market for Nissan and offers the kind of growth opportunities that can justify investments in localized production,” Colin Dodge, Nissan’s senior vice president for global overseas markets, said in a statement.
”By working with a partner experienced in this market, we aim to bring the best suited Nissan products to customers in Vietnam,” Dodge said
Flemming Eltang who was chief financial officer of Kjaer and has been named as Nissan Vietnam’s general director said the new company will first focus on dealer development and study the possibility of local production in the future for its long-term business strategy.
