Nissan Motor group and its local joint ventures plan to apend CNY60bn (US$9.5bn) in China to lift sales by more than 1m units annually, according to reports in Japan this week.
The group sold 1.52m vehicles in China last year, according to the reports, and it is looking to increase this to 2.6m by 2022.
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Nissan’s plan includes heavy investment in new capacity, especially for electric powered vehicles, as the Chinese government moves its domestic market away from conventional internal combustion power in favour of new energy vehicles.
Nissan said it plans to launch 20 new models by 2022, of which 30% are to be new energy vehicles, mostly electric vehicles.
Nissan is targeting an all electric fleet in China by 2025 for its Infiniti brand.
The Chinese vehicle market expanded by 3% to a record 28.88m units last year, making it by far the world’s largest; a full 10m unit sales more than second placed US where fewer than 18m units were sold last year.
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