Mitsubishi Motors Corporation is going through a difficult phase right now, with the admission of falsified fuel economy figures resulting in the resignation of high-ranking company officials. Yet it isn’t all bad news for the Japanese automaker, at least as far as its Philippine operations go.
Mitsubishi Motors Philippines has just been granted registration to the newly established Comprehensive Automotive Resurgence Strategy program. And in line with this program, MMPC has just broken ground to set up a body stamping facility.
The new body-stamping shop is part of MMPC’s expansion and investment program, which sees the firm pouring some P2 billion in this endeavor. This will facilitate the creation of a local entry in the manufacturing process. In other words, the Mirage and the Mirage G4 will soon become proudly Philippine-made.
The ground-breaking ceremony was held recently and attended by top government officials. It is the first time that MMPC will establish such a shop in its 50 years of operation in the country. The huge sum of money put into the new body plant will pay off in the form of savings from the production of its own body parts, versus having to import these as costly completely knocked-down (CKD) units.
Moreover, the new body-stamping shop is poised to generate thousands of new local jobs. This move will also help the Philippine economy and bring in much-needed capital. Construction is targeted for completion by the early part of 2018. Once up and running, the new facility will boost technology transfer for the Japanese auto company.
As for the consumer, this would hopefully mean a more competitively priced Mirage. What’s more, MMPC may also be better equipped to produce more models locally. Let’s wait and see.