Toyota Motor Philippines Corporation (TMP) is targeting to produce 20,000 units per year of the Next Generation Tamaraw commercial vehicle.
At the sidelines of the Next Generation Tamaraw ceremonial launch held at Santa Rosa, Laguna on Thursday, TMP President Masando Hashimoto said the company aims to sell around 1,500 to 1,800 units per month. The Philippine-made Tamaraw is based on Toyota’s new International Multi-purpose Vehicle 0 (IMV 0) platform for the Asian market.
Its launch in the Philippine market is scheduled on Dec. 6 this year while retail sales will commence by January 2025.
The target starting price is below P800,000.
TMP is also exploring the possibility of exporting the Next Generation Tamaraw, he added.
At present, TMP’s Santa Rosa plant, with a capacity exceeding 54,800 units annually, produces three Completely Knocked-Down (CKD) models: the Vios, Innova and Next Generation Tamaraw.
“The Next Generation Tamaraw represents a significant investment of P5.5 billion to build the capacity to produce about 22,000 units annually. This investment has not only allowed us to establish a state-of-the-art body conversion facility – our new 1.5-hectare ‘TMP Conversion Factory’ – but also to further enhance the skills and capabilities of our local workforce, and our overall competitiveness,” said TMP Chairperson Alfred Ty.
The newly constructed facility can convert the vehicle into three Tamaraw body styles – dropside, utility van and aluminum van – with gas and diesel engine options.
It also features advanced technology to ensure safety, quality, cost efficiency and environmental sustainability.
Ty said that as of October this year, TMP already paid close to P30 billion in taxes and duties and generated close to 70,000 jobs employed through suppliers, dealers, affiliates and business partners.
He added that over the past 36 years of doing business in the Philippines, TMP’s total contribution in taxes and duties amounts to P508 billion.
Philippine Economic Zone Authority (PEZA) Director General Tereso Panga, meanwhile, said the Tamaraw project initiative is expected to create over 500 direct jobs, support 15,090 spillover employment opportunities and strengthen the automotive value chain.
“TMP’s workforce, now at approximately 3,000 strong, will further grow, fueling progress in both our manufacturing and local supplier sectors,” he said.*PNA
