Japanese automaker Nissan is planning to build a new medium-duty truck for the European market at its Avila plant in Spain by the end of 2013.
The company will invest about EUR100m for developing the model and facilitate plant and local suppliers for beginning of production next year.
Nissan Spanish Industrial Operation vice-president Frank Torres said as part of this agreement between Nissan, Unions and Governments, the company has committed to allocate a new model to Avila before 2014, and this has now been achieved.
"In Europe, we expect the Total Industry Volume (TIV) for mid-duty vans and trucks to show a recovery in the mid term," Torres said.
Nissan said that the vehicle will complement its Cabstar cline up and will also increase the production capacity of Avilaplant, further maintaining jobs.
It will also support the company's expansion in the European Commercial Vehicle segment where it is expecting to double both its sales volume and market share in the mid-term.
Nissan sales increased 16% year on year to 62,000 units during Fiscal Year 2011, while about 90% of sales were of Spanish-built products which include NV200 van and Navara Pickup.
Under the Nissan Power 88 midterm plan for fiscal years 2011 to 2016, the company is aiming to achieve a global market share of 8%,from 5.8% in 2010.
