Nissan Motor Company on Friday said that it had increased its stake in a truck-making joint venture in China to 30 percent to expand market share in the country’s booming commercial vehicle market, Associated Press (AP) reported.
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Citing Nissan spokesman Yuichi Nakagawa, AP said that the company last month purchased a 25-percent stake in the Zhengzhou Nissan joint venture from Sammitr Motors Co. of Thailand for an undisclosed amount.
Nakagawa told AP that Nissan previously had a five percent stake in the joint venture, set up in 1993 and added that China’s Dongfeng Motor owns the remaining 70-percent.
Zhengzhou Nissan produced 6,300 trucks last year, including a three-ton truck developed by Dongfeng Motor, Nakagawa told AP, adding that the joint venture will produce more trucks this year than last year, but refused to provide specific production figures.
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