(DFL) was formally established on June 9, 2003 as the result of the strategic cooperation between Dongfeng Motor Corporation (DFM) and Nissan Motor Co. Xu Ping as current Chairman and Mr. Kimiyasu Nakamura as President. DFL has registered capital valued at RMB16.7 billion (240 billion Yen or US$2 billion) with 50 percent equity per each party. Investments from DFG include existing assets from subs
idiaries and equities in relevant enterprises while Nissan Motors Co. provided cash at equal value. The company is now headquartered in Wuhan and has approximately 70,000 employees. DFL is China's first automotive joint venture enterprise with a complete series of trucks, buses, light commercial vehicles and passenger vehicles. The Dongfeng brand is used for its commercial vehicles and the Nissan brand is used for passenger vehicles. DFL has established a R&D center for passenger vehicles in Guangzhou while maintaining and developing its R&D center for existing commercial vehicles with its headquarters relocated in Wuhan. DFL is the largest joint-venture project of its scale and the deepest and broadest scope in China's automotive industry.
——Largest in scale. Registered capital in the company is valued at RMB16.7 billion. It surpasses any other joint-venture enterprise in China. This is Nissan's second largest overseas investment project following project investments in the US.
——Greatest number of employees. The number of employees amount to 70,000, which is the greatest number for a joint-venture enterprise in China's automotive industry.
——Broadest range of products. DFL's products include commercial vehicles, passenger vehicles, parts & components and automotive equipment. This makes DFL the first joint-venture company with a complete range of products in China's automotive industry.
——Deepest cooperation. In addition to cooperation in the areas of R&D, production and sales, Nissan will also provide experience sharing in product strategy, purchasing, logistics, quality control, brand management, market development, sales network and financial services, covering all aspects of the value chain. DFL has successfully accomplished its first mid-term business plan named “Plan Two Cubed” by reaching sales target of 620,000 vehicle units for 2007.On May 28, 2008, DFL again announced its second mid-term Business Plan named “Plan One Cubed’ between 2008-2012. Under this ambitious plan, DFL targets vehicle sales of one million units and revenue of 100 billion RMB by 2012 with launching more than 15 new models. The Company also plans to become identified and recognized as a “Trusted Company” by creating the robust DFL corporate culture that will evolve as a unified blend of the working cultures of Dongfeng and Nissan and by providing environmentally friendly products and service.
