Nissan forming joint venture Yulon

Nissan forming joint venture Yulon

TOKYO: Nissan Motor Co. is forming a joint venture with Yulon Motor Co. to sell Nissan cars in Taiwan and support Nissan's efforts to expand in the Chinese market, the Japanese automaker said Tuesday.

Yulon, Taiwan's largest automaker, will take a 60 percent stake in the new company, while Nissan, Japan's third-largest automaker, will own 40 percent.

Both sides reached a preliminary agreement with details to be worked out by the end of the year, Nissan said in a statement.

Yulon, which has major operations in China, manufactures Nissan products and has a cooperative relationship with Nissan.

Like other automakers, Nissan is seeking to expand sales in China, where the consumer car market is growing. -- AP