Malaysia's Naza Automotive Manufacturing is expanding production capacity as it eyes a larger share of the domestic market share as well as higher export sales.

The company plans to invest MYR714m (US$230m) in its Gurun plant by 2015, which would bring total investments to MYR1.21bn.

Capacity will be raised to close to 100,000 vehicles per year, with the forthcoming C-segment Peugeot - code-named T73 - a key model in its future line-up.

The company expects output of this model to reach 60,000 units by 2016, with a significant proportion to be sold overseas. It is targeting export revenues of MYR2.5bn by 2016, from markets across the Asia region -and as far away as Australia and New Zealand.

Naza's Gurun plant, which has a production capacity of 50,000 units per year at present, produces Kia vehicles as well as Peugeots. The group also distributes vehicles for Mazda, Porsche and Ferrari.