One of the biggest automotive brands in the world is looking to boost their market presence through their whopping $9 billion investment in China. Nissan looks to enter the electronic vehicle in the next five years and looks to cement their brand as one of the company to make and create competitive electric vehicles in the near future.
Furthermore, Nissan is looking to introduce a total number of 20 assorted E.V. by the year 2022, and they are also looking to bump up their annual-unit gain through the help of Chinese companies. The auto company is looking to grow further with the massive their investments and is looking to penetrate a wider audience in the market.
Nissan is looking to tag Dongfeng Group, local Chinese Motor Corporation, as they try and introduce “affordable EV” compacts in the market. Looking at their announcement, the company is looking to introduce 3 compact EVs next year.
The company is looking to enter the market with a whopping 1 trillion yen investment as a joint-five year project in China; according to the company’s head of China operations, Jun Seki, the company is heavily buoying their growth through the integration of their new electrified models which are expected to be introduced in the next 5 years.
All-in-all, we can expect a total of 22 new vehicles from the Japanese automaker; they are also looking to lift their production vehicle volume to the 2.6 million from the 1.5 million they have last year by the end of the joint venture.
Triple One Strategy
Nissan introduced their plan as the “Triple One” strategy, Jun Seki noted that “We aim to break away from this second-tier group and become a top-3 China automaker,” and “We need to go full-throttle aggressive,” Seki ended saying “If we didn’t do that, we would fall behind and fail to grab market share otherwise we could take.”
More on the Strategy
Furthermore, the company is looking to put a huge emphasis on their premium brand, Infiniti. They look to increase the total annual sales of their luxury brand to 150,000 vehicles from the latter 150,000 vehicles a year over the same time frame; while the total sales of the auto company are looking to boosts its annual sales from 500,00 to a whopping 1.6 million units.
Looking at their previous run, Nissan managed to hit a record high of 1.52 million vehicles in China, a great leap from the U.S. market which was tallied to be at 1.59 million units sold, considering it is their top market in the world.
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