TAIPEI, May 20 (Reuters) - Japan's third largest automaker, Nissan Motor Co , and Taiwan's Yulon Motor Co will set up a joint venture to support the Nissan brand in Taiwan and mainland China, the two companies said on Tuesday.
The venture, tentatively named Yulon New, would be 40 percent owned by Nissan and handle all aspects of the Japanese firm's business in Taiwan and China, from engineering to sales and marketing, with the exception of manufacturing in Taiwan.
Yulon, which now makes Nissan-branded cars in Taiwan, would own the remaining 60 percent of the venture, the two firms said in a joint statement. The statement did not say how much money would be invested in the new venture. (US$1=T$34.6)