Malaysia’s second national car company, Perusahaan Otomobil Kedua (Perodua), said it would spend up to MYR1.5bn (US$488m) over the next three years on its manufacturing operations to help improve competitiveness.
The money will be spent upgrading production facilities, including boosting flexibility, and overhauling the sales and service network ahead of the launch of new models.
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Perodua is 20% owned by Toyota’s Daihatsu affiliate and 38% by UMW Corporation, the Malaysian Toyota and Daihatsu distributor.
Managing director Datuk Aminar Rashid Salleh said the investment was needed to prepare the company for an expected rise in competition as the Malaysian domestic market moves towards greater trade liberalisation.
The company wants to expand its product range to include a compact model. The current three-model range comprises only subcompact vehicles such as the Alza, Myvi and Viva.
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