Motorcycle manufacturer Honda Philippines Inc. is applying for incentives under Tier 1 of the Strategic Investments Priorities Plan for a planned capacity expansion of its plant in Tanauan, Batangas that will raise annual output by 442,000 units.
HPI said in its petition before the Board of Investments it is qualified to receive incentives under “all qualified manufacturing activities including processing” segment of Tier 1 under the Corporate Recovery and Tax Incentives for Enterprises law.
Data showed that the local motoring industry sold 1.43 million units in 2021, up 19 percent from 1.2 million units in 2020. Production also increased 19 percent to 867,453 units in 2021 from 655,440 units in 2020.
The industry continued to be dominated by Japanese manufacturers led by HPI, Kawasaki Motor Phils. Corp., Suzuki Phils. Inc. and Yamaha Motor Phils. Inc. Many motorcycle assemblers are carrying Chinese brands such as Sinski, Lifan, Skygo, Shineray, Loncin, Zongshen, and others.