Bilyonaryo - Business

Mitsubishi keen on expanding Xpander production in PH but only if Marcos extends CARS perks

February 16, 2023

Bilyonaryo.com

The Department of Trade and Industry (DTI) is enticing Mitsubishi Motors to produce its multipurpose vehicle Xpander in the Philippines, as part of the Comprehensive Automotive Resurgence Strategy (CARS) program, according to a trade official.

The Japanese carmaker has committed to investing in its manufacturing operation in the country during the official working visit of President Ferdinand R. Marcos Jr. to Tokyo, Japan.

Dita Angara-Mathay, Special Trade Representative, said Mitsubishi plans to introduce the production of a new model to meet their volume commitment under the CARS program.

However, the company’s expansion plan is dependent on the extension of the CARS program, which it is requesting for about two to three years.

The CARS program, which is a six-year program signed in 2015, aims to encourage local vehicle production by granting fiscal incentives to participating carmakers.

The program expired in 2021, but the DTI is working on the issuance of an executive order for its extension. Marcos was studying the proposed extension of the CARS program during his visit to Tokyo. (PNA)

Related News Tags: Comprehensive Automotive Resurgence Strategy, Department of Trade and Industry, Dita Angara-Mathay, Japan, Tokyo

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