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“Key” to the Future, Nissan Planning $8 Billion Push into China

Maker will launch 30 new models by 2015.

by on Jul.26, 2011

Nissan CEO Carlos Ghosn outlines big plans for the Chinese market.

Calling it the “key” to the company’s future, Nissan will invest $8 billion in an aggressive Chinese expansion plan that it hopes will help double annual sales in the booming Asian market.

Working with its local partner, the Dongfeng Group, Nissan says it will add another 30 new models to its Chinese line-up by 2015, including a new battery-electric vehicle that will be sold under the new low-priced Venucia brand.

In all, Nissan CEO Carlos Ghosn said the Japanese maker hopes to nearly double sales in China over the next four years.  They hit 1.3 million last year but Nissan is targeting a figure closer to 2.3 million by 2015.

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“China is key to our total growth,” the Brazilian-born executive declared during a Beijing news conference.  “We used to be extremely dependent on one market – it was the U.S. market,” he added, but the company’s strategy is now to put more emphasis on China.


Nissan Reveals Power 88 Plan: 8% Profit Margin, 8% Market Share and New Model Every 6 Weeks

Japanese maker goes on the offensive.

by on Jun.27, 2011

Nissan CEO Carlos Ghosn powers up.

Declaring it’s time for the maker to go on the offensive, “instead of restructuring,” Nissan CEO Carlos Ghosn has revealed his new Power 88 plan, which could put it within striking distance of the hobbled Toyota Motor Co.

The new six-year plan is the latest in a series of long-term targets laid out by Ghosn since assuming control of the then-struggling Nissan just before the turn of the Millennium.  But short of the original turnaround strategy, Power 88 is arguably the most ambitious laid out by the Brazilian-born executive.

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It calls for a huge increase in Nissan’s market share, to 8% within six years, while the maker also targets an 8% profit margin.  To help support its ambitious aims, Ghosn promises Nissan will significantly expand its presence in emerging markets, like China, while rolling out at least one new product, on average, every six weeks.

“This is the first time that Nissan is starting a plan on the offensive instead of reconstructing something, or defending something,” Ghosn told reporters at the maker’s new headquarters in Yokohama.