June 25, 2012 - 11:15 AMT
Nissan to spend $800 million on new China factory

Nissan Motor Corp. says it will spend up to $800 million on a new factory in China's northeast as part of efforts to expand sales in the world's biggest auto market.

According to AP, the Japanese automaker said Monday, June 25 the factory in Dalian will have a production capacity of 150,000 vehicles by 2014. It will be Nissan's fourth manufacturing center in China.

Nissan announced an $8 billion expansion plan for China last year as part of a global strategy to focus on faster-growing emerging markets and reduce reliance on the United States.