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Nissan sets up first joint-venture import-export firm in China with Dongfeng
Nissan has launched its first joint-venture import-export firm in China with Dongfeng, named Nissan Import & Export (Guangzhou) Co., Ltd., during the China International Import Expo. With a capital of RMB 1 billion, it aims to enhance local development and facilitate vehicle exports, including models like Dongfeng Nissan N7 and Frontier Pro PHEV, as part of its global strategy.
Key points
- Nissan established a joint-venture import-export firm in China with Dongfeng.
- The company is named Nissan Import & Export (Guangzhou) Co., Ltd.
- It was announced at the China International Import Expo.
- The firm has a registered capital of RMB 1 billion ($138 million).
- Nissan China Investment contributed RMB 600 million; Dongfeng contributed RMB 400 million.
- The first export models will be the Dongfeng Nissan N7 and Frontier Pro PHEV.
- This move aligns with Nissan's ‘in China, for China, to the world’ strategy.
Why it matters
- The establishment of the joint-venture marks a significant shift in China's automotive import-export market, which has traditionally been dominated by local manufacturers.
- Nissan's strategy reflects current trends in globalization and localization within the automotive industry.
- By 2025, it is expected that more foreign automakers will seek local partnerships to enhance competitiveness in China's massive market.
Nissan's joint-venture with Dongfeng signifies a strategic commitment to local development in China, aiming to boost exports and adapt to global market demands, setting a precedent for future foreign investments.