Mitsubishi to invest $228m in the Philippines

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Mitsubishi-MirageJapanese car maker Mitsubishi Motors is planning an initial investment of $228 million in its Philippine operations to establish its third Southeast Asian manufacturing hub in the country, a statement from the Department of Trade and Industry’s foreign trade office in Japan showed.

The proposed capital infusion would be used to increase the current production of Mitsubishi Motors Philippines Corp. (MMPC) to as many as 100,000 units annually, from the current 15,000, The Inquirer reported

Mitsubishi officials, led by chairman Osamu Masuko, made the disclosure before President Benigno Aquino in March this year.

MMPC president and CEO Hikosaburo Shibata said the company’s acquisition of the factory site in Sta. Rosa, Laguna, from Ford Motor Co. Philippines would allow the company to further increase its capacity, and even add a new model to be produced in the country.

“We have a strong intention to add a new model (in our lineup) as we’d like to continuously work here. Manufacturing cars is very important because we cannot rely only on imported cars. But Cainta is becoming largely a residential area, so further expansion is very difficult. This is why we transferred to the Sta. Rosa industrial area,” Shibata explained.

MMPC’s existing facility in Cainta, Rizal, can produce the Lancer EX, Adventure, and L300 at a rate of 30,000 units a year. The current utilisation rate, however, is only half at 15,000 units in 2013.

But the Sta. Rosa facility can already produce some 50,000 units, which may be doubled to 100,000 units by 2020. At this rate, not only can MMPC serve domestic demand, it can also export locally produced motor vehicles to neighboring countries, Shibata said.

According to the MMPC chief, they have yet to decide on which new model to produce here, but one of the candidates being considered is the Mirage, which the company currently imports from Thailand.

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Reading Time: 2 minutes

Japanese car maker Mitsubishi Motors is planning an initial investment of $228 million in its Philippine operations to establish its third Southeast Asian manufacturing hub in the country, a statement from the Department of Trade and Industry’s foreign trade office in Japan showed.

Reading Time: 2 minutes

Mitsubishi-MirageJapanese car maker Mitsubishi Motors is planning an initial investment of $228 million in its Philippine operations to establish its third Southeast Asian manufacturing hub in the country, a statement from the Department of Trade and Industry’s foreign trade office in Japan showed.

The proposed capital infusion would be used to increase the current production of Mitsubishi Motors Philippines Corp. (MMPC) to as many as 100,000 units annually, from the current 15,000, The Inquirer reported

Mitsubishi officials, led by chairman Osamu Masuko, made the disclosure before President Benigno Aquino in March this year.

MMPC president and CEO Hikosaburo Shibata said the company’s acquisition of the factory site in Sta. Rosa, Laguna, from Ford Motor Co. Philippines would allow the company to further increase its capacity, and even add a new model to be produced in the country.

“We have a strong intention to add a new model (in our lineup) as we’d like to continuously work here. Manufacturing cars is very important because we cannot rely only on imported cars. But Cainta is becoming largely a residential area, so further expansion is very difficult. This is why we transferred to the Sta. Rosa industrial area,” Shibata explained.

MMPC’s existing facility in Cainta, Rizal, can produce the Lancer EX, Adventure, and L300 at a rate of 30,000 units a year. The current utilisation rate, however, is only half at 15,000 units in 2013.

But the Sta. Rosa facility can already produce some 50,000 units, which may be doubled to 100,000 units by 2020. At this rate, not only can MMPC serve domestic demand, it can also export locally produced motor vehicles to neighboring countries, Shibata said.

According to the MMPC chief, they have yet to decide on which new model to produce here, but one of the candidates being considered is the Mirage, which the company currently imports from Thailand.

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