FILE PHOTO – Logo of the Nissan Motor Co. is displayed at the 44th Tokyo Motor Show in Tokyo, Japan, November 2, 2015. REUTERS\/Issei Kato\/File Photo<\/strong><\/span><\/p>\n

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J<\/span>apan\u2019s<\/strong> Nissan Motor Co\u00a0plans to invest about $900 million to boost vehicle-making capacity in China by 40 percent by 2021 – part of a 60 billion yuan ($8.73 billion) strategy to become a top three player in the world\u2019s largest auto market.<\/p>\n

Nissan and its Chinese joint-venture partner Dongfeng Group\u00a0intend to invest roughly $900 million for the envisioned manufacturing capacity expansion over the next few years, according to a person close to the plan. That would boost Nissan\u2019s vehicle production capacity in China to as many as 2.1 million vehicles a year.<\/p>\n

The investment is part of a previously disclosed multiyear plan to expand Nissan\u2019s sales in China.<\/p>\n

China\u2019s auto market has been dominated by General Motors Co\u00a0and Volkswagen AG\u00a0for nearly two decades, with each selling 4 million vehicles last year.<\/p>\n

Nissan, along with Toyota Motor Corp, Ford Motor Co, and Honda Motor Co, lag far behind, each selling 1 million-plus vehicles a year. Nissan wants to break out of this second tier to become a top-3 China automaker, Nissan China leaders have said.<\/p>\n

Nissan sold 1.5 million vehicles last year. Its goal is to sell up to 2.6 million vehicles a year by 2022, said the source, who declined to be named because he is not authorized to speak to reporters about the expansion.<\/p>\n

Nissan in February outlined a five-year plan, dubbed \u201cTriple One,\u201d to increase its market share in China by focusing on electric cars and the Venucia, a no-frills local Nissan brand in China – two market segments expected to see a surge in demand. It also aims to boost sales of light commercial vans and trucks.<\/p>\n

Nissan and Dongfeng would use two existing assembly plants to produce Nissan brand passenger cars and construct a new plant in Wuhan where state-owned Dongfeng is headquartered.<\/p>\n

Nissan, part of the Renault-Nissan alliance, plans to use the added capacity to produce both electric vehicles and gasoline-fueled cars for the Nissan brand and its China-only Venucia brand.<\/p>\n

As part of its expansion, Nissan and Dongfeng are seeking approval from China\u2019s regulators for a new assembly plant in Wuhan. If approved, the facility would have the capacity to be able to produce about 300,000 vehicles a year.<\/p>\n

Rival Toyota plans to boost its China capacity over the next few years by 240,000 vehicles a year, or by about 20 percent, from its current capacity of 1.16 million vehicles a year.<\/p>\n

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• Reuters<\/a><\/li>\n<\/ul>\n

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