Japanese automaker Mitsubishi Motors Corp. (MMC) plans to invest ₱7 billion in the Philippines over the next five years to expand its operations, Malacañang announced.
MMC President and CEO Takao Kato discussed the investment plan with President Ferdinand Marcos Jr., revealing plans to introduce a new production model at its Laguna manufacturing plant.
Kato emphasized the Philippines’ significance as MMC’s top Southeast Asian market, citing the country’s stable economy.
Marcos welcomed the expansion, highlighting its potential to generate more jobs and strengthen the local automotive industry.
MMC will also be included in the government’s new automotive revitalization program, aligning with its strategy to boost vehicle manufacturing in the country.
Source: PhilNews24 | February 8, 2025
