Japan’s Nissan Motor has established a new national sales joint venture in the Philippines with its long-standing local partner Universal Motors Corporation and its Nissan Motor Philippines manufacturing subsidiary.
The new sales company, called Nissan Philippines Inc (NPI), is scheduled to begin operations in early 2014 and will be responsible for national marketing, branding, sales strategies and dealer development.
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Japan’s Nissan Motor holds a 51% stake in the new company, with the two local assemblers each owning 24.5% of the equity.
Universal Motors and Nissan Motor Philippines will both continue to assemble Nissan vehicles in the country.
Takayuki Kimura, Nissan Motor’s vice president for the South-east Asian region, said the new company will allow Nissan to operate “as the unified voice in the Philippines. We will be bolder and more proactive in expanding our business in this market”.
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By GlobalData
