Japan’s carmaker to set up joint venture in Vietnam

Japan’s Nissan Motor Co. announced on December 8 that it will set up a joint venture in Vietnam with Denmark-based car distributor Kjaer Group A/S to boost sales in the emerging market, local media reported.

The joint venture, named Nissan Vietnam LLC, will be capitalised at 10 million USD, with 26% owned by Nissan and the remaining 74% by Kjaer, an international car distributor focusing on emerging markets.

Based in Hanoi, Nissan Vietnam will start operations later this month to import and distribute Nissan vehicles, parts and accessories, according to the Japantoday online newspaper.

Nissan has been selling its Tiida hatchback, the X-Trail sport utility vehicle, and other cars in Vietnam through Motorcare Co, a Kjaer subsidiary.

Nissan last year sold 518 vehicles through the Kjaer subsidiary, up from 175 units the previous year.

vna

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