Nissan Motor Co plans to invest 60 billion yuan ($9.5 billion) in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world's biggest market. Long stuck as a second-tier player in China, Nissan and Dongfeng Group said on Monday they plan to boost their volume to 2.6 million vehicles a year by 2022, up from 1.5 million vehicles last year. Nissan plans to achieve the objective, dubbed its "Triple One" strategy, by focusing on electric cars and Venucia, a no-frills local brand Nissan operates in China - two market segments expected to see a surge in demand. It also aims to boost sales of light commercial vans and trucks. China\u2019s auto market has been dominated by General Motors Co and Volkswagen AG for nearly two decades, with each of them selling 4 million vehicles last year. Nissan, along with Toyota Motor Corp , Ford Motor Co, and Honda Motor Co, lag far behind, each selling 1 million-plus vehicles a year. \u201cWe aim to break away from this second-tier group and become a top-3 China automaker,\u201d Nissan\u2019s China chief Jun Seki said in an interview with Reuters. \u201cWe need to go full-throttle aggressive,\u201d Seki said. \u201cIf we didn\u2019t do that, we would fall behind and fail to grab market share otherwise we could take.\u201d ELECTRIC STRATEGY Part of the strategy is to keep growing the Nissan brand and the company\u2019s premium Infiniti brand, Seki said. Nissan and Dongfeng plan to increase the Nissan brand\u2019s annual sales by 500,000 vehicles to 1.6 million vehicles a year by 2022. It also plans to boost Infiniti\u2019s annual sales by 100,000 vehicles to about 150,000 vehicles a year over the same time frame. Still, more critical a strategy is Nissan\u2019s electrification plan. Seki said the joint venture will launch as many as 20 electrified vehicle models across all brands in an effort to sell roughly 700,000 such cars a year by 2022 excluding electric light commercial vehicles, using a combination of all-electric battery vehicles and so-called \u201ce-Power\u201d hybrids. Automakers are scrambling to launch an array of electric and plug-in hybrid vehicles over the coming years, in part to comply with China\u2019s production quotas for such cars. Nissan\u2019s joint venture with Dongfeng sold about 22,000 electric vehicles last year, but they were mostly light commercial e-vans. In order to generate large enough EV volume, Nissan plans to come up with lower-cost electric cars by locally sourcing electric motors and other key EV components from suppliers in China. In 2019, Nissan for example plans to launch three such lower-cost EVs under the Venucia name. \u201cWe expect EV and e-power hybrid business to become profitable,\u201d Seki said, without elaborating. NO-FRILLS Venucia, which Nissan established jointly with Dongfeng, is another key focus. The brand began selling cars in 2012, competing with China\u2019s low-cost, no-frills indigenous brands such as those run by Geely and Great Wall Motor. Seki said shoring up Venucia is a must because indigenous Chinese brands will likely collectively sell as many cars as global brands sell in China. Last year indigenous Chinese brands sold a total of 10.3 million vehicles, compared with global brands\u2019 13.9 million vehicles. Venucia, which uses retired Nissan technologies such as platforms and transmissions, last year sold 143,000 vehicles, up 22.7 percent from 2016. Seki said Nissan wants to boost Venucia's annual volume by more than 400,000 vehicles to be able to sell as many as 600,000 vehicles a year by 2022. The effort is likely to face tough competition, however, from established local players such as Baojun, which GM operates jointly with its local China partners.\u201cNo global automakers have a brand that competes with low-cost local brands except for us and GM,\u201d Seki said. In addition to Baojun, GM operates the Wuling brand in a joint venture with Chinese partner SAIC Motor Corp and Guangxi Automobile Group.