Japanese automotive company Nissan Motor is set to establish a new joint venture company, Nissan Philippines, Inc. (NPI), in collaboration with Universal Motors (UMC) and Nissan Motor Philippines (NMPI).
The newly formed company will be headquartered in Manila and start operations from early 2014.
It will be responsible for strengthening the branding, marketing and sales strategy, and dealer operations in the Filipino market. NPI will broaden the product lineup and strengthen its sales and services across the nation.
NPI president Kenji Naito said that with the establishment of NPI, Nissan will proactively improve and enhance Nissan's brand awareness in the Philippines.
"We will introduce new and exciting products into the market and strive to improve total customer experience," Naito added.
NPI is capitalized at JPY1bn ($9.8m), with Nissan holding a 51% stake in the company, while UMC and NMPI own 24.5% each. UMC and NMPI will remain as production sources of Nissan vehicles in the Philippines.
