DALIAN - Japanese carmaker Nissan Motor Corp's Chinese joint venture on Monday said it will spend 5 billion yuan ($793 million) to build a new auto assembly plant in Northeast China.

Dongfeng Nissan's new plant, located in the coastal city of Dalian, will be able to produce 150,000 automobiles annually after going into operation in 2014, according to company executive Ren Yong.

The new plant, the company's fourth in China, will double its output to reach its maximum capacity in the future, Ren said. The company's four factories are expected to produce more than 1.5 million cars annually by 2015.

Dongfeng Nissan, founded in 2002 by Nissan and China's Dongfeng Motor Corp, sold about 800,000 vehicles in 2011. Sales have grown by 20.4 percent year on year so far this year, according to the company.