Toyota Motor Philippines Corp. is investing another P4.5 billion to build a logistics hub near its plant in Sta. Rosa, Laguna, a top executive said Monday.
TMPC president Satoru Suzuki said the company decided to invest in a logistics hub to efficiently manage production and provide easier logistics support to dealers and clients.
“We want to be ready for a future situation. Construction will start sometime next year ,” he said Monday.
The company will use a combination of loans and equity to finance the project which is expected to start operations in two to three years, he said.
The existing logistics center inside the Toyota Special Economic Zone in Sta. Rosa has a capacity for 5,000 vehicles at any given time, while the new logistics hub will be able to carry more vehicles.
Suzuki said while the company was looking for the most suitable site for the logistics hub, “it shouldn’t be far away from the Toyota ecozone.”
Suzuki, who will end his four-year stint as Toyota president this year, said his stay was a beautiful challenge, and he enjoyed the opportunities and challenges that went with the territory.
TMPC vice chairman Alfred Ty said 2019 sales could reach the company target.
“We’re actually hoping for a single-digit growth. We’ll see as we end the year,” he said.
Ty said he was optimistic the targets would be achieved not only by Toyota but also by the entire industry.