Mitsubishi Motors Philippines Corp. said it expects to attain as much as 50-percent local content for the Mirage, its model entry into automotive incentives program, before the six-year program life expires.
Mitsubishi executive vice president Dante Santos said the company would only need to import components such as engines and power trains which were not yet locally manufactured.
“We are confident that we can achieve 50-percent local content. That much is very doable for us,” Santos said.
The Cars program targets to generate 200,000 new jobs, bring in fresh investments worth $1.2 billion, stimulate local demand by increasing vehicle sales to $9.2 billion and effectively implement industry regulations that will revitalize the Philippine automotive industry.
Mitsubishi is spending P4.3 billion for the production of the two variants of Mirage, the company’s official entry model in the Cars program.
Meanwhile, MMPC said it recently concluded the successful leg of Mivec Clean Diesel Advantage Test Drive Tour in several venues across Luzon and the Visayas. “With the great demand, MMPC is going to take its popular test drive tour to more cities in the Philippines for the following weekends,” the company said.