MITSUBISHI Motors Corp. (MMC) will invest ₱7 billion in the Philippine automotive sector over the next five years, according to an announcement made by MMC President and CEO Takao Kato during a meeting with President Ferdinand Marcos Jr. on Thursday.
The investment will introduce a new production model at the Mitsubishi Motors Philippines Corp. (MMPC) plant in Laguna.
President Marcos highlighted the importance of the investment for job creation in the vital vehicle manufacturing sector.
He also confirmed MMC’s inclusion in the government’s Revitalizing the Automotive Industry for Competitiveness Enhancement Program, an updated version of the Comprehensive Automotive Resurgence Strategy Program.
Kato emphasized the Philippines’ status as MMC’s top Southeast Asian market within the ASEAN region. MMPC, a wholly-owned MMC subsidiary operating since 1963, currently produces 50,000 units annually at its Santa Rosa, Laguna facility.
This substantial investment reflects MMC’s strong confidence in the Philippine economy and its commitment to the growth of the local automotive industry.
