Japanese automaker Nissan has announced the establishment of Nissan Import & Export (Guangzhou) Co., Ltd. at the China International Import Expo, marking the first joint-venture vehicle import-export company set up by a foreign automaker in China.

The firm has a registered capital of RMB 1 billion ($138 million), with Nissan China Investment contributing RMB 600 million and Dongfeng Motor Group contributing RMB 400 million. Its first export models will include the locally developed Dongfeng Nissan N7 and Frontier Pro PHEV.

Nissan said the move is a key step in its “in China, for China, to the world” strategy, signaling a new phase of local development aimed at serving global markets. [IThome, in Chinese]