✒️ 𝐏𝐑𝐄𝐒𝐒 𝐑𝐄𝐋𝐄𝐀𝐒𝐄 | 𝐏𝐄𝐙𝐀 𝐫𝐞𝐢𝐧𝐟𝐨𝐫𝐜𝐞𝐬 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐭𝐨 𝐏𝐇 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲, 𝐰𝐢𝐭𝐧𝐞𝐬𝐬𝐞𝐬 𝐫𝐨𝐥𝐥-𝐨𝐟𝐟 𝐨𝐟 𝐓𝐨𝐲𝐨𝐭𝐚 𝐌𝐨𝐭𝐨𝐫’𝐬 𝐧𝐞𝐱𝐭-𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐢𝐨𝐧 𝐓𝐚𝐦𝐚𝐫𝐚𝐰
29 November 2024 (Friday)
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Pasay City – The Philippine Economic Zone Authority (PEZA) has reaffirmed its support to Toyota Motor Philippines Corporation (TMP) and the whole automotive industry as TMP unveiled the next-generation Tamaraw on 28 November 2024 at the Toyota Sta. Rosa Special Economic Zone, Laguna.
“In PEZA, we are ready to support Toyota every step of the way. Our economic zones are primed for the expansion of parts manufacturing, ensuring that the Philippines continues its evolution into a more competitive hub,” expressed PEZA Director General Tereso O. Panga during his keynote speech at the Ceremonial Roll-off of the Next Generation Tamaraw.
TMP has invested PhP 1.1 billion for a new 1.5-hectare conversion facility, bringing their total committed investment to revive their Tamaraw production to PhP 5.5 billion. This integrated vehicle production and conversion process—the first setup of its kind in the Philippines—is expected to deliver about 20,000 units of Tamaraw at the highest cost efficiency and translate to competitive vehicle prices accessible to Filipinos.
The new Tamaraw vehicles will be the third locally produced model by Toyota in its 78-hectare ecozone in Laguna. This initiative is expected to create over 500 direct jobs, support 15,090 spillover employment opportunities, and strengthen the automotive value chain.
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