Nissan Motor (TYO:7201) plans to invest an additional $1.4 billion in China by the end of 2026 to boost its sales in the country, Reuters reported Wednesday, citing the Japanese automaker's China chief, Stephen Ma, at the Shanghai auto show.
The company aims to rebound its market in the mainland to catch up with its Chinese counterparts, who Ma reportedly said were "exceptional in how fast they moved".
Nissan previously scaled back on its sales forecast for the fiscal year, partly due to its problems with China, the report said.
Ma said Nissan will also introduce 10 new energy vehicles in the country by 2027, which is higher than its previously committed eight NEVs, according to the report.
Nissan's shares rose more than 2% in recent trade.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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