Japanese automaker Nissan has confirmed its industrial expansion plans in Russia by investing additional EUR167m to expand its production plants in St. Petersburg in northwest Russia by 2014.
The carmaker's expansion plans follows its aim of achieving a 10% share in the Russian market by 2016, which is expected to be achieved by tripling its yearly sales from the 2011 total of 161,000 units.
To further support the plan, Nissan will enlarge its capacity at the St Petersburg Plant by adding 50,000m² of new production facilities, which is expected to double to 100,000 units from the current 50,000 vehicles.
Nissan said that the expansion will further allow the St Petersburg plant to produce up to five different models concurrently, from 2015, from the current three, which also include Qashqai, while its Sunderland facility will continue manufacturing the crossover for other markets.
The St Petersburg plant manufactures the Nissan Teana, Nissan X-Trail and Nissan Murano models.
Nissan to further expand its Russian presence, has also increased its stake in AvtoVAZ from the current 25% to over 50%.
