Volvo Car group, owned by China's Zhejiang Geely Holding, soon plans to begin exporting cars from Malaysia to other markets in the region, according to local reports.

The announcement was made at the local launch of the company's locally assembled S90 T8 plug-in hybrid car with two variants priced at MYR368,900 and MYR388,900 (US$92,200 and US$92,600).

Volvo cars are assembled at local subsidiary, Volvo Cars Manufacturing Malaysia in Shah Alam in Selangor state. The company sold around 930 cars in the local market last year.

The company is offering local buyers who order the new S90 before the end of October a MYR20,000 discount, equivalent to around 5% of the retail price.

Volvo is targeting annual sales of 5,000 units in south east Asia with exports from Malaysia to neighbouring markets including Thailand, Indonesia and Taiwan, set to start in the fourth quarter of 2017.

In Indonesia, the company has been busy re-establishing its import and distribution operations this year after an absence of several years while, in Thailand, it already has an established network with sales of just under 900 units last year.