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November 12, 2009

ZHENGZHOU NISSAN LAUNCHES HIGH-END LCV
NT400 CABSTAR IN CHINA

GUANGZHOU (November 12, 2009) - Zhengzhou Nissan Automobile Co., Ltd. (ZNA) today launched the all-new NT400 Cabstar, a high-end light commercial vehicle (LCV).

The China-wide launch represents an expansion of the Dongfeng Motor Co., Ltd. (DFL)-Nissan dual-brand LCV strategy in China. Through this, Nissan-branded vehicles serve the premium LCV market, while Dongfeng-branded vehicles meet general market volume needs. The NT400 Cabstar is the first Nissan-branded LCV model introduced since ZNA joined the DFL group four years ago.

The highly successful and award winning Cabstar, which dominates the COE segment in Europe and commands about 20% of the 1.5t segment in Japan as Atlas F24 (name of NT400 Cabstar in Japan), has been significantly re-engineered to meet the specific needs of the Chinese customer. Cabstar won the UK Van & Light Truck Best Truck in 2007, "Good Design" Award 2008 in Japan and "The Best Logistic Recommended Equipment of 2009" in China.

"With its high quality and advanced technology, NT400 Cabstar will satisfy many of the unmet needs of Chinese customers," said Harumi Okazaki, vice president of DFL. "We believe this is the right time to launch Nissan's global light duty truck in China, where the market is growing rapidly."

"The launch of Cabstar is a new milestone for ZNA to accelerate its unique dual-brand LCV strategy in China," said Guo Zhenfu, general manager of ZNA. "Cabstar offers best-in-class quality, durability and reliability, along with the most economical total cost of ownership in the light duty truck segment."

Cabstar is the first Nissan-branded vehicle built at Xiangfan LCV plant in Hubei province. Priced from RMB 139,800 (US$ 20,467) to RMB 152,800 (US$ 22,370), Cabstar will be sold through ZNA's network. The vehicle is powered by the locally made ZD30 diesel engine, and 15 variants are available.

ZNA 2009 sales (January through October) totaled 44,626 units, an increase of 17% versus the same period last year. ZNA's second plant will start operations in 2010 to provide additional capacity of more than 120,000 units per year. The company plans to launch the NV200 minivan next year to further strengthen the LCV business in China.

About Dongfeng Motor Co., Ltd. (DFL)
DFL was established in 2003 as a result of a comprehensive, strategic partnership between Dongfeng Group and Nissan Motor Co., Ltd. DFL is the first joint venture in China to have a full lineup of passenger vehicles, LCVs and H&MCVs, and has grown faster than the total market in China. Registered capital of the company is RMB 16.7 billion (US$ 2.4 billion), the largest automotive joint venture investment in China, with Dongfeng and Nissan each holding a 50 percent stake.

About Zhengzhou Nissan Automobile Co., Ltd. (ZNA)
ZNA is an affiliate company of DFL. Operations at ZNA include manufacturing and distribution of LCVs in China.

  1. Note: Amounts in dollars are translated for the convenience of the reader at the foreign exchange rate of RMB 1 per USD 0.146.

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