Submitted by Fox First at Ten on January 15th
KUALA LUMPUR, Malaysia (AP) - Malaysian compact car maker Perodua says it will invest 2.32 billion ringgit ($771 million) over four years in an aggressive expansion after sales rose 5 percent last year to a record high.
Perodua sold 189,100 vehicles in 2012, giving it a 30.2 percent share in the domestic market and keeping its pole position for the seventh straight year.
Managing Director Aminar Rashid Salleh says Perodua, which is partly owned by Japan's Daihatsu Motor Corp., aims to sell 194,000 vehicles this year.
He said Tuesday that Perodua will spend 2.32 billion ringgit through to 2015, including building a 790 million ringgit ($263 million) manufacturing plant that will be ready in mid-2014.
Perodua will also build more showrooms and bolster its after-sales business as it seeks to be a global company.
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