Malaysian car assembler Inokom plans to spend MYR40m (US$12.7m) this year to expand capacity at its assembly plant in Kulim state.

The mostly locally-owned joint venture company assembles Hyundai, Land Rover, Ford-Mazda, BMW, Mini, Jinbei and Foton vehicles. Sime Darby is the largest shareholder with a 51% stake, with Hyundai Motor owning 15% of the equity.

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Production is expected to reach 34,000 units in the financial year ending 31 March, 2015, from 28,000 units in the previous year, helped by the launch of the new 1.8-litre Hyundai Elantra which will be also be exported to Thailand.

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