Toyota commits P3.6 billion for 5,000 new jobs in PHL

Toyota Motor Corp. (TMC) assured President Benigno Aquino III during his working visit to Japan that its P3.6 billion investment to expand its dealership network throughout the Philippines will generate about 5,000 new jobs between now and 2016. Presidential Communications Operations Secretary Herminio Coloma said TMC would create the new jobs when it adds 36 dealerships to its current network of 29. Coloma said the fresh commitment top Toyota executives revealed to President Aquino will bring the auto firm’s total investments in the country Philippines to P20 billion. Aquino met TMC executive vice president Yukitoshi Funo, Toyota Motor Philippines (TMP) president Michinobu Sugata, and TMP vice chairman Alfred Ty. Coloma said Toyota’s 2010 exports reached $860 million which accounts for 30 percent of the country’s total automotive exports. He said the motor vehicle maker plans to produce 100,000 cars by 2013 in time for the celebration of its 25th anniversary in the Philippines. “For manufacturing facilities—they are looking at the feasibility of establishing a next generation components manufacturing plant," Coloma said. "They are now using this term ‘next generation’—probably referring to hybrid or electric cars—so there will be a higher degree of digitization in the components of the next generation cars," Coloma added. Coloma revealed that Toyota is also looking at a short-term project [worth] 170-million US dollars [for its] planned improvement for next generation components, manufacturing and localization of spare parts in connection with their manufacturing activities here [in Japan]." — ELR, GMA News