Nissan Motor Co. and French partner Renault SA will jointly invest 250 million euros (27.53 billion yen) on production of a new compact van, code-named the X83, at the Japanese automaker's plant in Barcelona, Spain, the two carmakers said Tuesday.
The plant will turn out some 64,000 units a year, they said.
Nissan is 36.8 percent owned by Renault and is undergoing rehabilitation operations under the French firm's auspices.
Jointly developed by Renault and General Motors Europe, the X83 is already in production at GM Europe's plant in Luton, Britain, at an annual rate of 86,000 units.
Producing the X83 in Barcelona, in addition to the Luton plant, is to meet growing demand for light commercial vehicles in Europe, Nissan and Renault said. It is also aimed at enhancing Nissan's light commercial lineup.
Renault and GM Europe will sell the X83 in Europe under the Renault Trafic and Opel/Vauxhall Vivaro brands through their separate networks from summer 2001.
Nissan will start selling the X83 under its own brand through its network in the second half of 2002.
The X83 models to be produced at the Barcelona plant will go on the market in spring 2003.