Mitsubishi Motors to invest P7-B in PH

MANILA: Mitsubishi Motors Corporation (MMC) is set to invest P7 billion in the Philippines, the company’s helm said.

During his courtesy call in Malacañang, MMC President and Chief Executive Officer Takao Kato discussed the company’s five-year investment plan, which will include a new model to be produced at its distributor’s facility in Santa Rosa, Laguna.

The company’s local arm is Mitsubishi Motors Philippines Corporation (MMPC) — the brand’s wholly owned subsidiary steered by Ritsu Imaeda. Its manufacturing facility MMPC has a current annual production capacity of 50,000 units but has the potential to expand to 100,000.

According to Kato, the Philippines comes as its most important investment in Southeast Asia. “In the ASEAN, (the) Philippines is our number one market,” he mentioned.

Kato has yet to share the new model that will be manufactured in the Philippines. Should the plan be fully realized, the new offering will join the following models that are already being manufactured in the country:

• Mirage
• Mirage G4
• L300

Aside from the Philippines, MMC has production facilities in:

Japan	Vietnam
Thailand	China
Indonesia	Russia

For his part, Philippines President Ferdinand Marcos Jr. welcomed MMC’s investment plan as it will result in job generation.

“The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those,” Marcos said.

With this, Marcos said that MMC will be included in the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, which is a proposed new version of the Comprehensive Automotive Resurgence Strategy (CARS) Program.

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