Nissan Motor reportedly will spend $US94 million to add an engine facility at a Japanese plant to meet demand for its VQ V6 engine, which powers the 350Z sports car and 10 other models.
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The facility at its Iwaki, Japan, plant, north of Tokyo, will begin production in the summer of 2006 and boost the factory’s annual output capacity to 560,000 engines from 396,000 now, Reuters reported.
The 10 billion yen investment amount is included in Nissan’s announced capital spending plans for this year, a spokeswoman told the news agency.
Reuters noted that, under a three-year business plan to begin next April, Japan’s second-biggest car maker wants to increase its global sales by 37% to 4.2 million vehicles by the 2007/08 business year, with plans to roll out 28 new models in that period.
Nissan’s Decherd powertrain assembly plant in the United States builds 950,000 engines and 300,000 transaxles annually, including two variants of the VQ V6. That plant is being expanded to produce crankshaft forgings.
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