Shanghai (ZXZC)- Dongfeng Motor Co., Ltd. (DFL) released plans for midterm business on Feb. 5, saying that it plans to deliver 2,600,000 vehicles and will release more than 40 new models by 2022, including 20 EV models and hybrid electric vehicle models equipped with Nissan's e-POWER technology. Moreover, Dongfeng will invest RMB 60 billion in manufacturing, R&D and human resource over the next five years and targets to earn revenue of RMB 300 billion by 2020.

According to the plan, the sales growth of Dongfeng Venucia and Dongfeng Infiniti is expected to be tripled. And sales of light commercial vehicles, pickups and frame SUVs as well as the export business will be doubled. Besides, its dealership network will be increased to more than 2,000.

By 2022, DFL will release more than 20 new NEV models. Specifically, six EV models under Nissan, Venucia and Dongfeng brand will hit the market during 2018 and 2019. According to DFL's plan, sales of EV models will take up 30% of its overall sales by 2022. DFL will also introduce the industry-leading component technology of electric vehicle to China and realize local production of components by 2022.

Dongfeng Nissan will introduce 15 new models into the market by 2022. The new-gen Nissan X-Trail is expected to be released in 2019. Its PHEV version will be powered by the same 2.0 gasoline engine as that of the Mitsubishi Outlander PHEV and a larger battery pack. 

Dongfeng Infiniti will also release EV models. Its full lineup will achieve electrification of 25% by 2022 and 100% by 2025. According to the released information, Infiniti will release a pure electric vehicle which will hit the market in 2021. In addition, it will offer electric vehicle version for every new model in the future. Infiniti announced that sales of EVs and vehicles equipped with e-POWER technology will account for half of its whole sales by 2025.

Before 2022, Dongfeng plans to apply ADAS, ProPILOT, e-parking and intelligent connected vehicle technology to its vehicles. What's more, Dongfeng will realize L1 and L2 autonomous driving technology in 2019, and Dongfeng Venucia will lead the intelligent connected vehicle technology, which will expand the to other brands in the future.