Toyota Motor Philippines (TMP) said it is infusing another P1 billion to fabricate the new-generation Tamaraw in the country.
TMP chairman Alfred Ty said Tuesday the additional investments would bring the company’s total capitalization for the Tamaraw production in the Philippines to P5.4 billion.
“We will launch in third quarter next year. The Tamaraw will not just a base model, it can be a passenger carrier, cargo mover or a truck. It’s very flexible since it will be much bigger than the previous Tamaraw model,” he said.
The additional investments will go to body conversion, whether intended as a public passenger or commercial vehicle.
The Tamaraw concept rides on the IMV 0 platform—a versatile chassis concept that can adapt to the needs of the users.
TMP said it would increase the capacity of its manufacturing plant in Sta. Rosa, Laguna to accommodate the volume for the new Tamaraw.
Ty said the company would ramp up the production of the Tamaraw to serve the needs for logistics of micro, small, and medium enterprises (MSMEs).
“This will be a game-changer for us in 2024, and it will signal a new era in mobility for Filipinos, especially for MSMEs. It is also a very significant step for us in our mission of strengthening local manufacturing and helping nation building,” he said.
“It is a vote of confidence in the quality of our local production and the competitiveness of our Sta. Rosa operations,” he said.