Nissan CEO meets Argentina’s President Macri to advance $600m investment

Argentina’s President Mauricio Macri and Nissan Motor Co CEO Hiroto Saikawa met today in Tokyo as part of the president’s Asia tour. Saikawa spoke during the meeting about advances in Nissan’s plan to produce vehicles in Argentina for the first time, starting in 2018.

“Argentina is key to realising Nissan’s growth ambitions in Latin America,” said Saikawa. “We’re pleased by the actions of President Macri and his administration to incentivise the development of supply chains which support the industry and local communities.”

Nissan announced in 2015 that it would transform its Argentina business from an importer to a full-fledged subsidiary, with plans to become an original equipment manufacturer focused on building NP300 Frontier pickup trucks. The investment for pickup production totals US$ 600 million (Rs 3,790 crore). The production line in Córdoba Province will build vehicles for Latin American markets and will complement Nissan’s manufacturing complex in Resende, Brazil. The Resende complex opened three years ago and builds cars and crossovers.

As part of its development plans in Argentina, Nissan will open new offices in Córdoba this summer. The company expects the pickup production line to be ready by the second half of 2018.