Department of Trade and Industry Secretary Alfredo Pascual has welcomed the public announcement of Japanese carmaker Toyota to revive the assembly of its utility vehicle model Tamaraw in the Philippines.
During the official working visit of President Ferdinand R. Marcos Jr. to Japan last week, Toyota Motors Philippines president Atsuhiro Okamoto presented the PHP4.4-billion investments of the company, which will involve bringing back the local assembly of Tamaraw. Aside from the assembly of Tamaraw, Pascual said TMP will manufacture the cab and chassis and sell them to other vehicle body builders.
The trade chief added this project will also support the Toyota’s mobility solutions that was launched last year.
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