TOYOTA Motor Philippines Corporation (TMP) recently commemorated its 35 years of operations in the country, and what a fruitful 35 years it has been, as seen in some of the figures trotted out at this momentous event in its life: TMP has locally produced over 1.03 million units; investments of P73.7 billion were made since 2000 by the Toyota Group, which paid duties and taxes of P448 billion.
Public and private partners attended the celebration held at the Grand Hyatt Manila in Bonifacio Global City.
TMP Chairman Alfred V. Ty opened the program by acknowledging the Toyota community and stakeholders who have given their support over the past 35 years, particularly during the challenges of the past three years. “I thank all of you for your invaluable support during Covid, undoubtedly the most trying time in our 35-year history. Thanks to all of you, we are now well on the road to better days ahead.,” he said.
In the last three and a half decades, TMP has accomplished significant milestones in automotive manufacturing and sales and its mission to be a major contributor to national development. Today, the company is the industry leader and ranked 10th in Toyota’s global markets. TMP has locally produced over 1.03 million units, delivered a cumulative total of 2.24 million units to Filipino homes nationwide, and received over 16 million units for servicing at Toyota dealer workshops nationwide.
Even the numerous challenges did not hamper TMP’s commitment to contribute to the country’s long-term development. Together with the Toyota Group, they have invested P73.7 billion since 2000. Moreover, the Group has paid duties and taxes amounting to P448 billion and exported USD18.76 billion worth of auto parts and components since 1997.
Regarding carbon neutrality, Ty explained that Toyota’s roadmap to a cleaner, carbon-neutral world includes multiple pathways. “We believe it begins with hybrid electric vehicles that are fun to drive yet helpful in reducing emissions and increasing fuel efficiency without the need for a charging infrastructure network,” he said.
But Ty also expressed his practical viewpoint to keep as many options as possible to pursue sustainable mobility seamlessly. “We will make sure that when we transition to full-electric vehicles, we are able to preserve jobs in our factory and assure our customers that they will have peace of mind – and fun – using their electrified vehicles. Electrification is the way to the future. I am encouraged by the moves of the government to enable a more rapid pace of adaption,” he added.
TMP continues to lead the way with the widest choice of mobility solutions that can move people from where they are today to where they want to be in their journey toward a happy and carbon-free tomorrow.
Welcome back, Chairman Toyoda!
ON a return visit to grace the momentous event was none other than Toyota Motor Corporation Chairman Akio Toyoda. Earlier that day, he enjoyed touring President Ferdinand “Bongbong” Marcos Jr. around the Santa Rosa, Laguna plant. “We at Toyota are extremely grateful for the support, wisdom, and guidance that we receive from President Marcos. And I know this great country is in the best possible hands with his leadership. So, we offer him our deepest thanks for making this 35th anniversary of ours possible,” he said.
Toyoda also expressed his delight to TMP and the country, making him decide in 2008 to increase the production of IMV transmissions in the Philippines and export them to the rest of Asia. Since 1992, Toyota Philippines has produced over 6.5 million vehicle transmissions at an export value of USD 2.9 billion, equal to 200 thousand CBU vehicles.
“This strategic decision to focus on transmissions and parts exports rather than final assembly has worked to our advantage. It is what has allowed us to be successful here, unlike some of our competitors. Personally, I believe that we need to come together, as an industry, to develop local suppliers here in the Philippines,” Toyoda explained.
MEANWHILE, TMP also unveiled the concept design of its ‘Toyota Mobility LCV’ model – the Toyota Next Generation Tamaraw. TMP claims that this upcoming vehicle model aims to provide Filipino entrepreneurs with a more suitable and affordable option.
According to TMP, the Next Generation Tamaraw captures the heart and essence of the iconic Toyota Tamaraw FX. It takes it far beyond into the future with added versatility and efficiency. It will be a significant platform for TMP to elevate its partnership with the government in increasing local parts production, technology transfer, creating jobs, up-skilling workers, and providing a better quality of life for Filipinos.
“I truly believe this is a product that can enhance the quality of life for many people and provide new economic opportunities,” said Toyoda, who led the unveiling of the concept model. “At Toyota, we believe people come first. We believe in building cars to serve the real-life needs of our customers.”
Toyoda also shared that in 2024, for the first time, IMV vehicles, such as the Next Generation Tamaraw, will be produced as CBUs in the Philippines at the Santa Rosa plant in Laguna. The move represents an additional investment by Toyota of P4.4 billion.
The Next Generation Tamaraw will be the third completely knocked down (CKD) model to be produced in TMP’s Santa Rosa plant, along with the Vios and Innova models. TMP claims that introducing the LCV line will help sustain its production operations. At the same time, localization of the model will also allow them to respond to the specific conversion requirements and specialized needs of Philippine customers.