With car prices down and steel prices up, Nissan Motor announced a cost-cutting plan to build a US$362m engine plant in Guangzhou with partner Dongfeng Motor Corp, aiming to start production at the 360,000-engine capacity plant in early 2006, according to Reuters. The venture will be run by Dongfeng Motor Co, a 50:50 venture between Nissan and Dongfeng. The two companies opened the mainland's largest Sino-foreign car JV, with a capacity of 150,000 cars a year, in May. The Guangzhou facility produces Bluebird, Sunny and Teana models.
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