TOKYO, Japan: Mitsubishi Motors Corp. (MMC) chairman and chief executive officer Osamu Masuko on Monday assured that the operations of Mitsubishi Motors Philippines Corp. (MMPC) will not in any way be adversely affected by Nissan Motor Co.’s plan to buy a 34-percent stake in MMC.
In a press conference with the Philippine media held at the MMC headquarters in Tokyo yesterday, June 27, 2016, Masuko disclosed that the new alliance between MMC and Nissan is based on an equal partnership, under which both companies respect each other’s brand, history and autonomous management.
“Nissan and Mitsubishi will separately pursue their brands, history, marketing activities and sales activities as we do now,” MMC chairman Masuko said.
“The purpose of having this alliance is to generate synergy effects and we expect excellent synergies in various areas such as purchasing, vehicle platforms, joint use of plants, development of advance technologies, creation of a growth market and sales finance,” the chief executive explained.
Masuko also assured that expansion plans in the Philippines are well under way, noting that last June 17, they broke ground for MMPC’s new stamping plant inside their facility in preparation for the start of production of Mitsubishi Mirage models early next year.
“MMPC is planning to invest P4.3 billion to build this new stamping facility and to add capacity to the passenger car production lines,” Masuko said.
At present, MMPC’s production capacity is 50,000 units annually. With the infusion of new investments, the capacity of the Sta. Rosa plant will increase to 100,000 units per year.
Commenting on the change of leadership in the country with President-elect Rodrigo Duterte set to take office on June 30, the Japanese executive said, “The Philippines will see a change of government in July, but our commitment to the country remains unchanged.
By keeping good communication with the new administration, we are determined to continue contributing to the growth of the Philippines through further development of the auto industry, increased local production and job creation.”
MMPC currently employs 1,000 people in the country. When the government’s Comprehensive Automotive Resurgence Strategy (CARS) program begins implementation, 700 new employees will be hired, with 4,000 more jobs expected to be created through allied industries.