Asia Bizz: Japan based auto company Nissan announced on March 6, 2012 that it will be building a new hatchback in Britain. The company also announced that it will be investing £125 million for production, which will also help in creating 2,000 jobs.

The project by Nissan will also be supported by a government grant of £9.3 million. Nissan said that the new vehicle will be built at the company’s Sunderland plant, the production of which will begin by mid 2013.

Nissan, in a statement, said that the new model will help the company in market expansion and the new model will also have a significant benefit in terms of jobs created at Nissan and amongst its UK supplier base. The new car is expected to compete with the already existing cars like the VW Polo and Ford Fiesta.

The car was unveiled at the Geneva Motor Show 2012 by Andy Palmer, the executive vice president of Nissan. Vince Cable, the Business Secretary said that it is a clear vote of confidence in the manufacturing industry of Britain. Cable added that the investment will be a boost for jobs at the Nissan plant as well as the wider supply chain.