Nissan Motor Co. said Wednesday it will establish a sales company in Russia in January to distribute Nissan vehicles and parts.
Nissan Motor Rus, to be based in Moscow, will be capitalized at about 1 million yen, coming from Nissan Europe S.A.S., the automaker's regional headquarters in Europe, according to company sources.
The X-Trail sport utility vehicle and other vehicles will be sold through the new company, Nissan said.
Toru Saito, who will become the new company's managing director, said in a statement that the establishment of the firm "demonstrates Nissan's long-term confidence in the Russian market. We are planning to make significant investments to strengthen the Nissan brand in Russia and enhance the quality and coverage of our dealerships for our customers."
Honda tops 50 million
Honda Motor Co. said Wednesday its cumulative worldwide automobile production reached 50 million units as of this month, including 33.8 million vehicles produced in Japan and 12.6 million in North America.