Nissan To Build Transmission Plant in Tennessee
Dec. 20, 1995
TOKYO (AP) _ Nissan Motor Co. announced Wednesday it will invest 5 billion yen ($49 million) to build a new engine transmission plant in Decherd, Tenn., adjacent to an engine plant that Nissan plans to build by early 1997.
The transmission plant is supposed to start operating in the spring of 1998 and make 300,000 transmissions annually.
Nissan said the transmission plant and the engine facility are scheduled to create 200 jobs each.
The transmissions will be used in Altima cars manufactured at Nissan's Smyrna, Tenn., plant, as well as on Nissan and Ford minivans built in their U.S.-based joint project.
Nissan said the construction of the plant is in line with its global business plan announced in June during the troubled U.S.-Japan auto talks. It also is designed to boost the cost competitiveness of its U.S.-made cars.
Separately, Nissan said its Japanese vehicle production will rise 2.1 percent in 1996 and overseas production will increase 0.9 percent.
The auto maker said its domestic auto sales are expected to increase 7.1 percent, while its exports from Japan are seen slipping 3.2 percent.