Toyota Motor Co.’s planned third completely knocked down (CKD) model to be assembled locally will be a versatile vehicle which would spur industry linkages and will boost mobility, according to Alfredo Pascual, secretary of the Department of Trade and Industry.
Pascual told a television interview yesterday Toyota Japan as early as late 2022 committed to produce a third model, a light commercial vehicle under its Innovative International Multi-purpose Vehicle (IMV) platform but was reiterated last week during the presidential visit to Japan by executives of the company and its local unit, Toyota Motor Philippines Corp. (TMP)
Termed by TMP as “Toyota Mobility LCV,” the model is inspired from the company’s first Asian utility vehicle introduced in the 1970s, the Tamaraw.
According to Pascual, the vehicle can be sold separately: the cab with chassis whose body can be supplied by builders producing bodies for jeepneys, delivery vans, or double cab for family use.
“There is that flexibility … for linkages with other Philippine companies,” he said.
This latest investment of TMP amounting to P4.4 billion covering vehicle production and parts localization was registered with the Board of Investments in late 2022.
“Toyota is not just selling vehicles, it is now into mobility (solutions) including software where it could also operate ride-hailing service,” Pascual said.
TMP first vice president Rommel Gutierrez told reporters at a company event on Monday the Toyota Mobility LCV will ramp up capacity in its Sta. Rosa facility but that it is too early to determine the numbers. Last year, the the facility produced 60,000 units of Vios and Innova.
He said the Toyota Mobility LCV is still at its prototype phase and details will be announced once finalized.
In a briefing paper, TMP said Toyota Mobility LCV will showcase advancements from Tamaraw and further build on the reliability and flexibility it established for the Filipino customers.
“This Toyota Mobility LCV model aims to demonstrate the development of the IMV and Toyota’s future commitment to the Asian market including the Philippines, the third largest market in the Asean region. It is designed to adapt to the usage patterns and lifestyles of Asian customers,” the paper said.
It added localization of the model will also allow TMP to respond to the specific conversion requirements/specialized needs of Philippine customers.
Gutierrez said TMP has noted a rise in the demand for LCVs and took this as an opportunity.
“The introduction of a third CKD model will help sustain TMP’s production operations. This will (also) help sustain automotive manufacturing in the Philippines, especially with the cessation of local production by other OEMs (original equipment manufactures),” the paper said. Irma Isip
