Mazda Motor, Bermaz in JV production, sales talks


KUALA LUMPUR: Mazda Motor Corporation and Bermaz Motor Sdn. Bhd are looking into the viability of setting up a joint venture production and sales company in Malaysia.

The joint venture is aimed at further enhancing Mazda's business and brand strength in Malaysia, according to Mazda's statement which was posted on its website on Friday.

The Hiroshima-based company said both parties "have agreed to begin talks regarding the establishment this year" of the JV production and sales company.

Mazda said it began local assembly of the Mazda3, which is known as Axela in Japan, in 2011. With the new joint venture project, plans to begin local assembly of the Mazda CX-5 early in 2013.

"Mazda plans to produce 3,000 CX-5s per year in Malaysia," it said, adding that Mazda's sales had shown consistent growth since it started to do business with Bermaz in 2008.

Takashi Yamanouchi, Mazda's representative director and chairman of the board, president and CEO said in the last financial year, it achieved record sales results of approximately 6,000 units and 1% of the market share.

"Local assembly of Mazda3 started in January 2011 and is going well. Malaysia is one of our key strategic markets and we expect further growth there.

"The talks with Bermaz about the joint-venture production and sales company indicate Mazda's strong commitment to business in Malaysia. Mazda will continue to focus on emerging markets to strengthen our overall business foundation," he said.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

Myanmar, with US$6b in foreign reserves, is doing utmost to stabilise currency
Thailand approves US$1.64b more support measures
Edra wins bid to build 600MW power plant in Bangladesh
Malaysia's retirement scheme third in Asia
UK reveals US$13.3b of inward investment in green push
Bitcoin pushes toward record before debut of futures-based ETF
Hong Kong's new China futures create bourse history, but lag rival Singapore
Chinese property bonds firm after Kaisa and Sunac make coupon payments
CIDB hopes for funds to boost tech in construction
IOI Corp offers to buy debt notes

Others Also Read


Vouchers