Mitsubishi Motors Philippines Corporation's (MMPC) Comprehensive Automotive Resurgence Strategy Programme, also known as CARS, has broken ground to inject more than Php2bn (US$43m) to construct a stamping shop facility in the country.
Including the setting-up of the line for its entry models, fixed investments will reach PHP4.3bn.
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The construction of the stamping shop will kick-start MMPC's participation into the CARS programme and also complies with one of its requirements to produce large body parts of a vehicle in lieu of the usual importation.
"Studies show high logistics cost in producing vehicles are brought about by bulk shipment of containers loaded with large completely-knocked-down parts," said a Mitsubishi statement.
"The event is deemed to be another milestone in the history of MMPC inasmuch as this will be the first time a metal stamping process will be introduced to the manufacturing process after more than five decades of operations in the Philippines. This added process would create additional job opportunities and transfer of new technology."
MMPC will train its newly-hired manpower in Japan, with the shop fully operational in the early part of 2018.
