Nissan to create China-specific brand

Nissan Motor (7201.TYO), in cooperation with joint venture partner Dongfeng Motor (0498.HK), plans to introduce a China-only car brand to target lower-end passenger car market in the interior, the Wall Street Journal reported. The new brand will be called Qichen, which translates to Venus, and the English brand name will be Venucia. Kimiyaso Makamura, president of the Nissan-Dongfeng JV, said the company wants to sell to consumers making around US$7,000 per year, a growing consumer segment that wants to buy small, affordable, no-frills cars. Nissan did not reveal how much the JV will spend developing the new brand or a time frame for when it will be released.