NATIONAL
Advocates Philippines
Marcos Welcomes Mitsubishi's P7-Billion Investment - More Jobs, More Cars For Filipinos
Photo credit: PCO
Looks like big things are coming for the Philippine auto industry! President Ferdinand R. Marcos Jr. has given a warm welcome to Mitsubishi Motors Corp.’s (MMC) massive ₱7-billion investment plan in the country over the next five years—a move that’s set to drive job creation and boost local car manufacturing.
During a courtesy call at Malacañang on Thursday, MMC President and CEO Takao Kato shared the company’s expansion plans, which include introducing a new production model at Mitsubishi Motors Philippines Corp.’s (MMPC) Laguna facility.
Marcos was all in on the investment, emphasizing its importance to job generation in the country. “The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those,” he told Kato.
A Big Boost from the RACE Program
To further support Mitsubishi’s expansion, the President confirmed that MMC would be included in the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program—a fresh take on the previous Comprehensive Automotive Resurgence Strategy (CARS) Program. With this, Marcos hopes MMC can maximize its growth potential in the country.
For Mitsubishi, the Philippines isn’t just another market—it’s their top market in Southeast Asia. “In the ASEAN, (the) Philippines is our number one market,” Kato told the President, citing the country’s strong and stable economy.
Mitsubishi’s Strong Roots in PH
Mitsubishi Motors has been around since 1970 and operates in several countries, including Japan, Thailand, Indonesia, and Vietnam. In the Philippines, MMPC is a fully owned MMC subsidiary, tracing its roots back to 1963 when it started as Chrysler Philippines Corp. Today, its Laguna plant churns out up to 50,000 vehicles a year, with the capacity to double that if needed.
With the Philippine auto market on the rise—425,208 units sold as of November last year—Mitsubishi holds a solid 19% market share, making it the second-largest player, just behind Toyota.
This latest investment from MMC isn’t just about growing its business—it’s about creating jobs, strengthening local manufacturing, and giving Filipinos more quality car options. Buckle up, because the future of the Philippine auto industry is looking bright!
During a courtesy call at Malacañang on Thursday, MMC President and CEO Takao Kato shared the company’s expansion plans, which include introducing a new production model at Mitsubishi Motors Philippines Corp.’s (MMPC) Laguna facility.
Marcos was all in on the investment, emphasizing its importance to job generation in the country. “The jobs that it will provide, that your investment will provide, are very important to us and certainly, vehicle manufacture is one of those,” he told Kato.
A Big Boost from the RACE Program
To further support Mitsubishi’s expansion, the President confirmed that MMC would be included in the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program—a fresh take on the previous Comprehensive Automotive Resurgence Strategy (CARS) Program. With this, Marcos hopes MMC can maximize its growth potential in the country.
For Mitsubishi, the Philippines isn’t just another market—it’s their top market in Southeast Asia. “In the ASEAN, (the) Philippines is our number one market,” Kato told the President, citing the country’s strong and stable economy.
Mitsubishi’s Strong Roots in PH
Mitsubishi Motors has been around since 1970 and operates in several countries, including Japan, Thailand, Indonesia, and Vietnam. In the Philippines, MMPC is a fully owned MMC subsidiary, tracing its roots back to 1963 when it started as Chrysler Philippines Corp. Today, its Laguna plant churns out up to 50,000 vehicles a year, with the capacity to double that if needed.
With the Philippine auto market on the rise—425,208 units sold as of November last year—Mitsubishi holds a solid 19% market share, making it the second-largest player, just behind Toyota.
This latest investment from MMC isn’t just about growing its business—it’s about creating jobs, strengthening local manufacturing, and giving Filipinos more quality car options. Buckle up, because the future of the Philippine auto industry is looking bright!
Feb 7, 2025
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