By Bernie Cahiles-Magkilat
Toyota Aisin Philippines, Inc. is investing p1.2-billion manufacturing plant in the country for the production of automatic transmission components.
Charito B. Plaza, director-general of the Philippine Economic Zone Authority (PEZA), said the company will utilize Toyota Autoparts Philippines, Inc.’s resources for the production of 400,000 sets a year of automatic transmission components.
On Wednesday night, the Toyota Autoparts Philippines, Inc. (TAP) and Aisin Seiki Co. Ltd. agreed to increase Aisin’s equity participation in Toyota subsidiary TAP from the current 34 percent to 61 percent. TAP will be renamed Toyota Aisin Philippines, Inc. and Aisin will take the lead in managing the new company’s business operations.
TAP supplies the automotive parts and components of Toyota Motor Philippines (TMP).
TAP has produced high-quality MTs as one of Toyota’s Global MT supply bases.
Most, if not all of TMP’s parts suppliers are also located at the Toyota Special Economic Zone in Sta. Rosa, Laguna.
With TMP’s participation in the government’s Comprehensive Automotive Resurgence Strategy, it will be needing parts and components supply from TAP.