BEIJING (Reuters) - Chinese auto maker Dongfeng's <0489.HK> joint venture with Japan's Nissan Motor <7201.T> expects to sell 1 million vehicles annually by 2012, Kimiyasu Nakamura, the president of the JV, said on Wednesday.

The joint venture, named Dongfeng Motor Co Ltd (DFL), sold 610,000 vehicles in 2007. In the first four months, car sales totaled 101,769, 23.2 percent more than a year earlier.

The JV, which brings together China's third-largest automaker, Dongfeng Motor Group Co, with Japan's No. 3, will build a 1 billion yuan ($144 million) plant by 2010, Nakamura told reporters as he outlined its medium-term strategy.

The new factory will begin production in 2010.

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The JV's sales are likely to reach 100 billion yuan by 2012, the executive said. In 2007, the JV had turnover of 59.32 billion yuan.

"We would like to reach this 1 million units within this 5-year period," he said.

Dongfeng also has joint ventures with PSA Peugeot-Citroen <PEUP.PA> and Honda Motor <7267.T>.

($1=6.948 Yuan)

(Reporting by Kirby Chien; Editing by Alan Wheatley and Keiron Henderson)