Nissan Motor Co. Ltd. on June 13 unveiled a host of initiatives to boost its presence in Africa, the Middle East and India as part of the Japanese automaker's six-year midterm plan.
The company will place an emphasis on growth in South Africa, India, the United Arab Emirates, Egypt and parts of sub-Saharan Africa. It forecasts sales in the overall region to grow by about 40% to more than 12 million vehicles annually by 2022.
"Under the Nissan M.O.V.E. to 2022 plan, the company is looking to capture the full potential of the Africa, Middle East, and India region," Peyman Kargar, chairman of Nissan for that region, said in a statement.
The plan, announced in April 2017, is designed to raise annual revenue by 30% to ¥16.5 trillion by the end of fiscal year 2022, in part driven by growth in electric vehicles.
As part of its strategy in Africa, the Middle East and India, it intends to forge local partnerships to meet demand. Nissan also plans to increase the penetration of its Datsun brand in new and emerging markets.
In South Africa, the company expects to "substantially" raise its market share from 10% by 2022. Nissan, which already is present in Nigeria and Egypt, said it is exploring further manufacturing options in sub-Saharan Africa.
Nissan will introduce new models in the Middle East to increase its market share in the region to 20% by the end of fiscal 2022 from 16%. It aims to double its Saudi Arabia market share to 14% by the end of the strategic plan, as well as increase its market presence in Turkey.
The automaker, which entered Pakistan in March, will look to foray into other "frontier markets." It expects to generate over 1,800 jobs by locally producing the Datsun model.
Nissan said it will further strengthen its dealership network and increase its market share in India.
The company expects to boost its offering of electrification, autonomous driving systems, and connectivity products and services under the Nissan Intelligent Mobility unit.