- Underlines brand's long-term commitment to the growing Chinese luxury market
- "Important milestone for Infiniti's growth strategy" - Andy Palmer, EVP
- Two models to be manufactured by JV company, Dongfeng Motor Co., Ltd. by 2014
Infiniti will significantly raise its presence in China as it was today confirmed that two Infiniti models will be manufactured locally in China from 2014.
The Infiniti brand was first introduced to China in 2007, and continues to strengthen its product lineup and expand its sales network to satisfy customers in the growing Chinese luxury segment. Local production will allow customers increased access to Infiniti's high-quality products, contributing to further growth in brand awareness and market share.
"The expansion of the Infiniti business is a key pillar of the Nissan Power 88 mid-term plan," said Andy Palmer, Executive Vice President of the Global Infiniti & Luxury Business Unit. "This is an important milestone for Infiniti's growth strategy, and for the brand to reach its aggressive sales target of 500,000 units by 2016, local production in the world's largest automobile market is not an option but a necessity to our success," he added.
The two models, yet to be named, will be manufactured at facilities operated by Nissan's joint venture company in China, Dongfeng Motor Co., Ltd. (DFL). The extremely productive partnership with DFL and its parent company, Dongfeng Motor Corporation (DFM), will enable Infiniti to quickly realize its production objectives in China.
Further details regarding the new manufacturing program will be issued at a future date.
Dongfeng Motor Corporation (DFM)
Founded in 1969, Dongfeng Motor Corporation (hereafter referred to as DFM), formerly named Second Automobile Works Co., is one of the major state owned enterprises in China. Headquartered in Wuhan, Hubei province, the DFM has a wide business scope covering passenger vehicles, commercial vehicles, auto parts & components, and equipment.
The DFM sold 3.0587 million vehicles in year 2011 with operating revenue of RMB407.1 billion, ranking at 145th of Fortune 500 listing and 13th in TOP 500 of domestic enterprises and 2nd in TOP 500 of domestic manufacturers respectively.
With the corporate vision of ‘Building a centennial DFM, which is capable of sustained growth, an internationalized DFM, which is world oriented, and an open DFM which is capable of independent development’, the DFM is striving to become an open and independent enterprise with sustainable growth to compete in the global arena.
Dongfeng Motor Co., Ltd. (DFL)
Dongfeng Motor Co., Ltd. was established in 2003 as a result of a comprehensive, strategic partnership between Dongfeng Group and Nissan Motor Co., Ltd. DFL is the first joint venture in China to have a full lineup of passenger vehicles, LCVs and H&MCVs, and has grown faster than the total market in China. Registered capital of the company is RMB 16.7 billion, the largest automotive joint venture investment in China, with Dongfeng and Nissan each holding a 50 percent stake.
Nissan Motor Co. Ltd. and its business in China
Nissan Motor Co., Ltd., the second-largest Japanese automotive company, is headquartered in Yokohama, Japan, and is part of the Renault-Nissan Alliance. Nissan provided customers with more than 4.67 million vehicles globally in 2011. China is the largest single market for Nissan, representing more than a quarter of its total global sales. Nissan started its full-scale operation in the Chinese market in 2003 with the establishment of Dongfeng Motor Co., Ltd. Nissan launched its luxury brand, Infiniti, in China in 2007. Nissan's sales volume, including both passenger and light commercial vehicles, has risen from 94,000 units in 2003 to approximately 1.25 million units in 2011. For 2012, Nissan is targeting sales of 1.35 million vehicles in China.
Infiniti reflects its brand promise "Inspired Performance" with a model line-up of sedans, coupés, SUVs and crossovers featuring exhilarating performance, emotive design and cutting edge technology. Infiniti continues to launch across the globe through a dedicated network of Infiniti Centers that share a commitment to exceptional hospitality throughout the entire period of ownership.