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Mitsubishi plans SE Asia exports next year
MANILA, Philippines — Mitsubishi Motors Philippines Corp. (MMPC) plans to start exporting vehicles to Southeast Asian markets next year.
The Department of Trade and Industry (DTI) said in a statement the plan was relayed by Japan parent Mitsubishi Motors Corp. (MMPC) chief executive officer Osamu Masuko during a meeting with Trade Secretary Ramon Lopez.
Under the plan, Masuko said MMPC would produce more units of the Mirage/G4 and L300 models in the Philippines and start exporting the vehicles to ASEAN (Association of Southeast Asian Nations) market by next year.
At present, MMPC produces the Mirage at its plant in Laguna.
The Mirage is MMPC’s entry under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program, which aims to attract investments, stimulate demand, develop a vibrant local auto parts supplier base, and implement industry regulations to revitalize the country’s automotive industry.
As a participant to the CARS, MMPC will be provided fiscal and non-fiscal support by the government.
Earlier, Dante Santos, senior vice president for corporate affairs and corporate secretary at MMPC, said the firm would discuss its plan to export vehicles with the government.
The DTI supports the plan as the government would want to position the Philippines as a production hub and exporter of vehicles.
“The intention is to produce specific models that will be exported to our neighbors in ASEAN. The good thing here is, as MMPC is already present in other ASEAN countries like Thailand and Indonesia, they plan to make certain countries as production hub for certain models, which will serve their respective domestic and export markets,” Lopez said.
He said vehicle exports would not only allow local car manufacturers to tap a larger market, but help address the country’s trade deficit, especially with two ASEAN vehicle exporters – Indonesia and Thailand as well.
“We keep saying that building an export manufacturing base is the way to go. It is also a good import substitution strategy. Through this initiative, we will address the trade imbalance and provide more jobs to our countrymen,” Lopez said.
Apart from the plan to export vehicles assembled in the Philippines, Masuko also informed Lopez of the firm’s intention to collaborate with government to develop the electric vehicle industry in the country.
Source: https://www.philstar.com/business/2018/12/14/1876791/mitsubishi-plans-se-asia-exports-next-year#9Aovwc9QQU49H0T9.99