Japanese carmaker Mazda Motor and Malaysian sales company Bermaz Motor have established a new joint venture (JV) company called Mazda Malaysia.
The $27.4m joint venture, which will be headquartered at Shah Alam, Selangor in Malaysia, is established to oversee assembly of Mazda vehicles and its distribution to Bermaz.
Mazda Motor will hold a 70% stake in Mazda Malaysia, while Bermaz Motor will hold the remaining 30%.
According to the company, the new joint venture will produce Mazda3 and CX-5, with an annual production target of 3,000 units each model.
The Japanese carmaker said the local production of CX-5 for Malaysia is expected to start in spring 2013.
Source:
http://manufacturing.automotive-business-review.com/news/mazda-bermaz-form-new-jv-company-in-malaysia-120912
