Malaysian auto firm DRB-Hicom Bhd will form a joint venture with units of Japan's Mitsubishi Corp and Isuzu Motors Ltd to assemble Isuzu vehicles in Malaysia.

Reuters said DRB will subscribe for new shares and end up with a 49% stake in Isuzu Malaysia Sdn Bhd while the units of Mitsubishi and Isuzu would hold the remaining stake.

DRB reportedly did not say how much it was going to invest in the venture though its wholly-owned unit Automotive Corp. (Malaysia) has been distributing Isuzu vehicles for the last 20 years.

Initially, Isuzu Malaysia would assemble pick-up trucks in eastern Pahang state and would then assemble sport utility vehicles and multi-purpose vehicles in Malaysia, the report said.

DRB currently assembles or sells a wide range of foreign and local marques including Chevrolet, Audi, Volkswagen, Mitsubishi and Proton, Reuters noted.