Nissan venture starts operations

Nissan Motor's
joint venture with Dongfeng was due to start operations on July 1. Japan's third largest
carmaker said it had invested US$lhn in the joint venture,
Dongfeng Motor, which was
set up in Sep-tember last year and is headquartered in Wuhan, Hubei province. The
Chinese partner has provided assets and premises worth an equal amount.
Nissan
expects the venture to produce 220,000 cars and 330,000 commercial vehicles a year by
2006. It plans to launch six passenger car models over the next few years. From 2003, the
company's Sunny model will be produced in Guangzhou, followed next year with a luxury
sedan called the Teana.