TOKYO -- Nissan Motor Co. plans to raise the annual output capacity at its Dongfeng Motor Co. joint venture by 80 percent to 270,000 vehicles by 2007, the Nihon Keizai business daily reported on Wednesday.
The investment in the venture's factory in Guangdong province would amount to about 9.5 billion yen ($80.99 million), the newspaper said.
The move is part of Nissan's goal to sell 300,000 cars in China in 2007, the report said. The venture plans to launch two new models each year starting in 2006 and to increase output capacity to 180,000 units by 2006 from 150,000 now, it added.
Nissan officials were not immediately available for comment.
Dongfeng Motor Co., a 50-50 joint venture between Japan's second-biggest automaker and China's Dongfeng Motor Corp., became China's fastest-growing auto producer in the first half, with sales of 66,476 cars -- more than double the 27,204 units sold in the same period last year.