In the latest attempt to revive its name, Nissan Motor Co. on Tuesday launched the new version of its flagship Fairlady Z sports car -- two years after production of the vehicle was terminated.

The new 3.5-liter Fairlady Z, fully remodeled for the first time in 13 years, will also be exported to the United States, where the vehicle is known as the Nissan 350Z, as well as European markets.

The Fairlady Z was first launched in 1969. A total of 220,000 units of the model were sold in Japan -- along with 1.22 million overseas -- before production was terminated in August 2000 due to a decline in sales.

Nissan President Carlos Ghosn said he decided to relaunch the vehicle because a number of Nissan customers have demonstrated their loyalty to the Z, adding that the car was a valuable asset to the Nissan brand.

"For fans, the rebirth of the Z is a wish come true," Ghosn told a reporters at a press preview. "For people at Nissan, it's a tangible symbol of our company's revival."

In the first year after its relaunch, Nissan aims to sell 42,000 units of the Fairlady Z globally. Ghosn said the company will focus its marketing efforts on the U.S., as the sports car market there is much larger than in Japan.

Nissan said it has already received 2,000 advance orders for the Z in Japan and 7,800 from the United States.

The new Fairlady Z, which features a V6 engine and has been designated by the government as an ultra-low emission vehicle, is priced between 3 million yen and 3.6 million yen.

Fuel cell car moved up

Nissan Motor Co. President Carlos Ghosn said Tuesday the automaker will begin limited marketing of its first fuel cell vehicle in fiscal 2003, two years ahead of its original plan.

Nissan's move follows recent announcements by Toyota Motor Corp. and Honda Motor Co. that they will begin leasing fuel cell vehicles by the end of the year -- a year earlier than scheduled.

Ghosn said Nissan is moving the schedule forward after engineers working on the project proposed that the firm advance commercialization of the ultimate clean car, which runs on pure hydrogen and emits only water.

Nobuo Okubo, a Nissan executive vice president, said the firm has yet to decide on the details but that a fuel cell vehicle will be marketed through a leasing plan within Japan. Both Toyota and Honda said earlier this month they will market their fuel cell cars in Japan and the U.S.

Toyota expects some 20 units to be leased to customers in the first year, while Honda, which said its marketing in the U.S. will be limited to California, said it expects about 30 units to be leased within the first three years.

A Toyota official said earlier this week that the firm has received a number of inquires from customers, including local governments.