Auto manufacturing giant Nissan Motors is planning to build a new car assembly plant in Myanmar. With this new plan, the auto giant aims to start manufacturing the Nissan Sunny compact sedan as of 2015. The company also said that the Myanmar Investment Commission gave the approval to its application for the joint venture plant with Tan Chong Motors from Malaysia, on August 15, 2013.
After political reforms helped the country to emerge from isolation in 2011, Myanmar opened to foreign investments. Carlos Ghosn, the CEO of Nissan in a statement said that Myanmar will become an 'important economic engine' for the Southeast Asia.
Initially, the new factory will be employing 300 workers and is set to produce more than 10,000 cars annually at full production. Nissan also said that the 80-acre industrial complex will be the largest auto factory in Myanmar, however, no financial details have been revealed so far.
Tan Chong and Nissan are known for a longstanding relationship. The company based in Malaysia is the sole distributor of Nissan vehicles in a couple of Southeast Asian countries. Nissan is considered to be the sixth largest manufacturer in the world and stands behind Toyota, Volkswagen Group, General Motors, Hyundai and Ford.
Photo Credits: Paultan