Toyota Motor Philippines Corp. (TMP) on Friday reported a 95-percent increase in sales of electrified vehicles (xEVs) in 2024, reflecting the company’s stronger push for sustainable mobility in the country.
TMP now offers 17 Toyota and Lexus xEV models, the widest lineup in the local market.
It said in its 11th Sustainability Report, the rise in electrified vehicle adoption complements its broader environmental strategy, which also includes shifting its Santa Rosa manufacturing plant to 100-percent renewable energy.
The company also showcased the Corolla Cross H2 Concept with hydrogen refueling technology as a potential zero-emission solution.
TMP president Masando Hashimoto said electrification is only one part of the company’s “Beyond Zero” global initiative, as it seeks to address other societal issues including safety, mobility, and connectivity.
“Achieving zero is no longer enough. We are creating new value, building a future where each move we make is driven by the vision of leaving the world in a better state,” he said.
Despite the shift toward greener technology, TMP also recorded its highest-ever vehicle sales of 215,756 units in 2024, securing its 23rd consecutive “Triple Crown” and generating P242 billion in revenues, up 8 percent from the previous year.
The company’s manufacturing expansion drove a 267-percent increase in new hires, while its dealer and supplier network now supports over 60,000 individuals nationwide.
TMP also completed its Comprehensive Automotive Resurgence Strategy (CARS) project, producing more than 204,000 Vios units over six years. It also announced a P5.5-billion investment for local production of the Next Generation Tamaraw.
The report also highlighted TMP’s social impact, including above-minimum wages for employees, zero fatalities and eight million safe man-hours and expanded health and wellness programs.
