Mazda sets up venture in Malaysia

Kyodo

Mazda Motor Corp. said it has set up a joint venture in Malaysia with Bermaz Motor Sdn. Bhd. in an attempt to expand vehicle sales.

The company, Mazda Malaysia Sdn. Bhd., is capitalized at ¥2.1 billion and owned 70 percent by Mazda and the rest by Bermaz, the Japanese automaker’s sole distributor in Malaysia.

The new firm will oversee local production and distribution of models assembled in Malaysia, Mazda said Tuesday.

Mazda also said it will start assembling its CX-5 sport utility vehicle in Malaysia starting next spring with an annual production target of 3,000 units.