Hanoi, Vietnam – The Nissan Motor Company has entered a joint venture with Kjaer Group A/S to create Nissan Vietnam LLC (NVL). The new joint venture, aimed at increasing the automaker’s business presence in Vietnam, will start operations this month.

“Vietnam is a promising new market for Nissan and offers the kind of growth opportunities that can justify investments in localized production,” said Colin Dodge, Nissan’s senior vice president for global overseas markets. “By working with a partner experienced in this market, we aim to bring the best-suited Nissan products to customers in Vietnam.”

In 2007, Kjaer Group and its wholly-owned Vietnamese subsidiary sold 518 vehicles in Vietnam, including the Nissan pickup, the Tiida (sold as the Versa in Canada) and the X-Trail. NVL plans to continue this current line-up and also launch new models in 2009.