GERMANY’S BMW Group plans to get more automotive electronic parts from the Philippines, which would mean more export earnings for the country and jobs in the auto parts manufacturing sector, Trade and Industry Secretary Ramon Lopez said over the weekend.
“BMW Group will be sourcing more automotive electronic parts from the Philippines as part of its Asean strategy,” Lopez told reporters.
BMW imports €16-million worth of auto parts (components and electric control units) from the Philippines and intends to increase that value in the coming years in support of its Asean strategy, which identifies Thailand and Malaysia as its manufacturing hubs in the region and the Philippines as an auto parts supplier.
Asean is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand and Vietnam.
Lopez also said BMW intends to bring its latest plug-in hybrid vehicles and collaborate with the E-Vehicle Association of the Philippines in building the necessary e-vehicle infrastructure such as the setting-up of charging stations in the country.
Earlier, the German-Philippine Chamber of Commerce and Industry said that German firms were interested in Philippine electronics and car parts manufacturing.
As more companies are looking into Southeast Asia, the chamber believes that the Philippines enjoys competitive advantage against other countries in the region because of its young and educated English-speaking workforce, and lower production and labor costs.