Nikkei quoted Mr Takashi Yamanouchi president of Mazda Motor Corporation as saying that it intends to build new factories in emerging markets as part of efforts to bolster global sales.

Mr Yamanouchi told the Foreign Correspondents' Club of Japan that Mazda is conducting studies in Brazil, India and Russia to make forays into these markets. The automaker has already dispatched a team to Brazil to explore building a factory and secure sales channels.

He added that "In Russia and elsewhere, we would not be competitive unless we pursue local production, which would give tax benefits."

Mr Yamanouchi said that under its current goal, Mazda plans to boost annual global sales to 1.7 million vehicles by fiscal 2015, up more than 30% from the projected fiscal 2010 level, by focusing marketing efforts in the US and China. Now it will add sales in emerging markets to develop Mazda into a company selling 2 million vehicles yearly in the future.

He added that Mazda plans to build a plant in Mexico and begin turning out 100,000 subcompacts a year as early as 2013. This site is expected to supply vehicles to Brazil.

(Sourced from Nikkei Business Daily)