STA. ROSA, Laguna—Mitsubishi Motors Philippines Corp. announced Friday that the company’s automotive production has reached 600,000 units in end-March 2016 with an estimated value of P480 billion.
“This is another production milestone in MMPC’s 53 years of existence as one of the major players in the local automotive, manufacturing industry,” president Yoshiaki Kato said in a briefing at its plant in Sta. Rosa, Laguna.
MMPC in a span over 50 years has manufactured several models that include Dodge Colt, Minica F4, Lancer, Cimarron and Canter (Mitsubishi trucks).
With several models reaching their life cycle, Mitsubishi has moved on to producing the L-300 vans and the Mitsubishi Adventure with plans to beef up manufacturing by including the Mirage model in the production line starting 2017 under the vehicle incentive program of the Trade Department.
The Mitsubishi Adventure was the 600,000th vehicle unit produced by MMPC, while the Lancer 500,000th unit that was celebrated in its former plant in Cainta, Rizal,
Kato said the company was still selling Adventure, even after 18 years since its Philippine debut, because of its high level of performance and flexibility befittingthe Philippine market.
Localization of parts for Adventure has reached a high level of 67 percent while that of L-300 is at 61 percent.
“However, we regret that with the recent thrust of the Environment Department to shift to Euro 4 compliance, production of our pioneer models shall be deferred,” said Kato.
Manufacturing of the same models will start as soon as the company devises Euro-4 compliant engines for Adventure and L-300 vans.
Kato reiterated the company’s commitment to pursue manufacturing operations in the Philippine in the next 50 years.
“Our recent application to the CARS [Comprehensive Automotive Resurgence Strategy] program of the government shall attest to this commitment. Pending receipt of the certificate of recognition for the program, the plant has been preparing already for the production line set-up of our entry model,” he said.
The company as early as June 2016 plans to set up the press manufacturing or stamping facilities for side panels and roof that will account for almost half of the proposed initial capital expenditure the program, or about P2 billion for the press plant alone.
MMPC earlier announced an initial capital expenditure program of P4.3 billion to jumpstart the production of Mirage, the company’s entry model in the CARS program.
MMPC currently brings in the Mirage sedan and hatchback variants from its hub in Thailand.