MMPC is set to commit P4.3 billion to establish a local production line for its sedan Mirage model, expected to be operational by early 2017. This investment also includes a P2-billion stamping facility in Laguna.
“Under the CARS programme, our projected production volume is 200,000 units within a period of six years. In order to meet this target volume, MMPC plans to increase its plant’s capacity by adding another work shift,” said MMPC president and CEO Yoshiaki Kato.
TMPC, on the other hand, is making an initial investment of P3.22 billion starting this year for the manufacturing of its Vios line. Production will begin by 2018 and there are plans to manufacture around 230,000 units within six years.
CARS is a government initiative to boost car manufacturing in the country. The programme allows three participants, although only two automotive makers applied.
“... [F]or without a robust parts making industry, our car-making industry will remain uncompetitive. The CARS programme is about building capabilities and jobs to make our automotive manufacturing industry competitive in ASEAN,” said trade secretary Gregory L. Domingo.
