HANOI (December 8, 2008) - Nissan Motor Co., Ltd. (Nissan), together with Kjaer Group A/S (Kjaer), took another step toward an increased business presence in Vietnam by creating Nissan Vietnam LLC (NVL). The new joint venture will start operations in December.
"Vietnam is a promising new market for Nissan and offers the kind of growth opportunities that can justify investments in localized production," said Colin Dodge, Nissan's senior vice president for global overseas markets. "By working with a partner experienced in this market, we aim to bring the best-suited Nissan products to customers in Vietnam."
Flemming Eltang, who was chief financial officer of Kjaer, has been named general director of NVL and will coordinate all Nissan activities in Vietnam. "NVL will focus on dealer development to offer unique, innovative and sustainable value for our customers in Vietnam," said Eltang. "We have a long-term plan that is focused on enhancing our business, which includes studying the possibility of local production in the future."
In 2007 Kjaer Group and its wholly owned Vietnamese subsidiary, Motorcare Co. Ltd., sold 518 vehicles in Vietnam, including the Nissan pickup, the Tiida hatchback and the X-TRAIL SUV. In addition to the current lineup, NVL intends to launch new models in 2009 to provide customers with more driving excitement. Through the import license issued by the Vietnamese government in mid-November, NVL will start importing and distributing Nissan vehicles, parts and accessories.
Kjaer Group A/S
Founded in 1962, Kjaer Group A/S is an international distributor of vehicles focusing its activities on emerging markets. The company is also a Nissan distributor in several other countries and the leading provider of vehicles and automotive services to international aid and development organizations. In close cooperation with its customers and partners, Kjaer develops turnkey automotive and supply chain solutions that have delivered and serviced vehicles in 133 countries. Kjaer is headquartered in Denmark.
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