Mazda Motor has established a new joint venture company in Thailand to serve as an international distribution hub for its growing automotive component business in the country.

The new company, Mazda Logistics & Yusen (Asia), is a joint venture based in Samut Prakan between Mazda Sales Thailand and Yusen Logistics (Thailand), with a registered capital of THB40m (US$18.7m).

A total of THB1.7bn worth of Mazda spare parts, produced by 260 different suppliers was sold in Thailand last year and a further THB800m was shipped to more than 100 markets worldwide.

Mazda expects sales of components made at its Thai facilities to rise sharply over the next few years. It recently began operating a new THB11bn plant in Chonburi with a production capacity of 400,000 Skyactiv gearboxes per year.

The company's first engine plant in Thailand is also scheduled to be completed at the end of 2015.

The new joint venture will give Mazda more direct control over its OE and spare parts distribution operations, rather than depending on its AutoAlliance joint venture with Ford Motor.

A greater focus on exports also will help Mazda improve economies of scale and competitiveness in the Thai market.