Dongfeng Motor, Nissan Motor’s joint venture with Chinese state-owned automaker Dongfeng Motor Corporation, announced a new strategy designed to revive the company’s flagging performance.
The joint venture, often referred to as Dongfeng Nissan, reported a 22% sales decline to 546,744 light vehicles in the first nine months of 2023, including locally made and imported models sold under the Nissan, Venucia and Infiniti brands.
The company is currently struggling to keep up with the country’s rapid transition to zero emissions vehicles and intense price competition. It sells just one battery electric vehicle (BEV) model in China at present, the Ariya.
Dongfeng Nissan plans to launch 10 new locally developed new energy vehicles (NEVs), including plug-in hybrid and battery powered vehicles, in China by 2026 with the first model to make its debut in the second half of 2024. Four will be sold under the Nissan brand.
The joint venture also plans to begin exporting vehicles by 2025 with an initial target of 100,000 vehicles per year.
The company said it wants to “fully utilise” its assets in China and improve its research and development capability so it can respond more readily to the rapidly evolving domestic market.
The aim is to “develop high value-added products, technologies and services and improve the overall performance of the business”.