Nissan seeks capacity of 8 mil. units

Nissan Motor Co. wants to boost its annual global vehicle production capacity to over 8 million units by fiscal 2016, President Carlos Ghosn said Monday.

 The company's worldwide production totaled 4,797,000 units in fiscal 2011 that ended in March.

 Nissan plans to assemble its vehicles at a plant of Russia's leading automaker AvtoVAZ that the automaker will jointly buy with its partner Renault SA of France.

 Following the buyout of the Russian firm, Nissan plans to provide technology and personnel while receiving sales know-how in Russia, Ghosn said an interview at the company's headquarters in Yokohama.

 The deal is "win-win," he emphasized, adding that "we are benefiting from AvtoVAZ's numerous assets."

 In the Chinese auto market, Ghosn said Nissan expects annual average growth of 5 percent in the long term.

 The automaker aims to boost its share of the Chinese market to 10 percent from the current 7.3 percent, he said.

 The company's production capacity in China is projected to reach 2 million units in 2014-2015, according to Ghosn. If the market grows to 25 million units, Nissan will need a production capacity of 2.5 million units, he said.

 The company also plans to boost its production capacity in Brazil, Indonesia and Mexico through new plant construction or expansion of existing plants.