MANILA – Toyota Motors Philippines (TMP) announced Saturday that it will start operations of the Batangas Vehicle Logistics Hub for imported vehicles in the fourth quarter of 2021.
TMP invested PHP4.5 billion for the logistics hub located in its 32-hectare facility near Batangas Port, the gateway to imported vehicles.
The logistics hub will be used for pre-delivery inspection and post-production installation with an annual capacity of 160,000 units.
The facility also has a stockyard that can accommodate at least 4,500 cars at a time.
“TMP remains committed to supporting the goal of the government to stimulate the economy and to prepare for the eventual resumption of motorization in the country. The auto industry is a key driver of economic activity and an essential part of the drive to increase mobility,” TMP president Atshuhiro Okamoto said.
TMP made the announcement as the government started to impose provisional safeguard duties on imported passenger cars and light commercial vehicles this month.
"As you know, however, TMP operates on the basis of a combination of locally-produced and imported vehicles. We will maximize efforts to promote sales of our Vios and Innova to cushion the impact of safeguard duties,” Okamoto said.
Meanwhile, TMP chairman Alfred Ty expressed his optimism about the economic recovery, noting that the developments in Covid-19 vaccines helped in bringing back market confidence.
"Also on the brighter side of things, the ‘Build, Build, Build’ project of the government and the private sector is coming into fruition. We commend the continuous construction of these new roads and highways which will enable economic recovery efforts and bring more joy to driving," Ty added.
In 2020, TMP sales reached 100,019 units, capturing 41.3 percent of the local market. (PNA)
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