TOKYO, Sept. 11 (Kyodo) — Mazda Motor Corp. said Tuesday it has set up a joint venture in Malaysia with Bermaz Motor Sdn. Bhd. in an attempt to expand vehicle sales.
The new company, Mazda Malaysia Sdn. Bhd., is capitalized at 2.1 billion yen and owned 70 percent by Mazda and the rest by Bermaz, which is the Japanese automaker's sole distributor in Malaysia.
The new firm will oversee local production and distribution of models assembled in Malaysia to Bermaz, according to the Hiroshima-based automaker.
Mazda also said it will start assembling its CX-5 sport utility vehicle from next spring in Malaysia, with an annual production target of 3,000 units.