Mitsubishi Motors Philippines Corporation (MMPC) held a groundbreaking ceremony for the construction of its P2 billion stamping shop facility in Laguna. The construction of the said facility is in line with MMPC’s participation in the Comprehensive Automotive Resurgence Strategy (CARS) program.
As a review, the Department of Trade and Industry’s Board of Investments had issued a certificate of registration to MMPC as an approved participant in the CARS program.
The CARS program intends to spur local vehicle manufacturing and to expand the country’s vehicle parts making capabilities. It aims to attract P27 billion worth of new investments, manufacture an additional 600,000 vehicle units, and contribute P300-billion or 1.7% of the country’s GDP (gross domestic product).
With that in mind, MMPC’s stamping shop facility is eyed to boost the local production of the Mirage and the Mirage G4 to around 60,000 units annually starting 2018.
MMPC added that the stamping shop facility would improve the company’s capacity to produce large vehicle body parts, which would bring down the costs of importing completely-knocked-down (CKD) parts.
The P2billion stamping shop facility is part of MMPC’s P4.3 billion investment for its participation in the CARS program. The company said that it would be fully operational in early 2018.
For more information about Mitsubishi and its vehicles, visit the AutoDeal Car Guide.
Latest News
-
MG Philippines expands network with new dealership in Lipa, Batangas / News
In partnership with Antara Ventures, Inc., MG Lipa aims to deliver the MG experience to the Batangueño community.
-
Isuzu Philippines achieves ISO 9001:2015 certification for quality management / News
Isuzu Philippines Corporation earns ISO 9001:2015 certification, showing high-quality standards in manufacturing, sales, and aftersales.
-
GAC Motor Angeles opens in partnership with DreamCar Unlimited / News
GAC Motor Philippines has opened its newest dealership in Angeles City, Pampanga, in partnership with DreamCar Unlimited.
Popular Articles
-
Cheapest cars under P700,000 in the Philippines
Jerome Tresvalles · Sep 02, 2024
-
First car or next car, the Ford EcoSport is a tough package to beat
Jun 18, 2021
-
Car Maintenance checklist and guide – here’s everything you need to know
Earl Lee · Jan 12, 2021
-
Most fuel efficient family cars in the Philippines
Bryan Aaron Rivera · Nov 27, 2020
-
2021 Geely Okavango — Everything you need to know
Joey Deriquito · Nov 19, 2020
-
Family cars in the Philippines with the biggest trunks
Sep 20, 2023
-
Head to head: Toyota Rush vs. Suzuki XL7
Joey Deriquito · Oct 28, 2020
-
Why oil changes are important for your car
Earl Lee · Nov 10, 2020
-
2021 Kia Stonic — What you need to know about it
Joey Deriquito · Oct 16, 2020
-
Top 7 tips for buying a used car in the Philippines
Joey Deriquito · Nov 26, 2020