Nissan Motor Co. formally announced Thursday that it has formed a comprehensive alliance with Chinese auto giant Dong Feng Automobile Co. to set up a joint venture in China next spring that will produce a full range of cars and commercial vehicles.
Nissan will invest 120.4 billion yen in the venture, which will be named Dongfeng Motor Co. and equally owned with Dong Feng.
Nissan also plans to spend between 20 billion yen and 30 billion yen through 2006 to develop cars for the Chinese market.