Nissan Motor Co. is plotting aggressive growth in China that could catapult that country ahead of the U.S. as the carmaker's top market in five years.
Nissan's local joint venture, Donfeng Motor Co., targets boosting annual sales in China by two-thirds, or approximately 1 million vehicles, to 2.6 million vehicles through 2022, the company said.
To get there, Nissan and its Chinese partner, Dongfeng Group, will introduce 40 models, including 20 electrified vehicles, across all brands, from the Infiniti luxury and Nissan mass-market marques to the Venucia and Dongfeng local counterparts, Nissan said.
The company will also add 2,000 dealers across all brands countrywide.
The ambitious goals flesh out the China component of a new midterm plan Nissan unveiled late last year. At the time, Nissan President Hiroto Saikawa outlined only broad revenue and strategic goals under his M.O.V.E. to 2022 plan, saying regional details would come later.
Nissan has yet to specify its targets for the U.S. But the China objective of 2.6 million units will likely dwarf Nissan's volume in the U.S., which is currently the carmaker's biggest market.
Nissan's joint-venture sales in China climbed 12 percent to 1.52 million vehicles in 2017, while Nissan North America's U.S. volume inched ahead just 1.9 percent to 1.60 million units.