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 PhP1.1 billion for a new 1.5-hectare conversion facility, bringing their total committed investment to revive their Tamaraw production to PhP5.5 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.
Recognizing the contributions of carmakers like Toyota to the Philippine economy, President Ferdinand Marcos Jr. emphasized that the government will continue supporting the growth of the industry in the country, which has greatly contributed to the creation of jobs, transfer of technology, and boosted global competitiveness.
Toyota Motor Asia Region deputy chief executive officer Hao Quoc Tien expressed, “The sustained support by the Philippine government for the vehicle and parts manufacturing industry also reinforces the country’s role as an essential part of our Asia business.”
With this, the PEZA Chief noted, “We are counting on TMP to lead the growth of the automotive industry so that it can continue its socio-economic contributions to the Philippines. We consider Toyota as our partner for economic growth.”
‘Galing ng Gawang Pilipino’
According to TMP, the return of the Tamaraw model, which is one of the iconic vehicles in the Philippines, showcases their confidence in the talent of the Filipino workforce and the quality of Philippine-made products that can compete in the global automotive market.
TMP Chairman Alfred Ty explained, “It is a testament to our commitment to the nation, building our belief in Filipino craftsmanship, and our continuing mission to create ever-better cars for the Philippines.”
“I am incredibly proud of the highly skilled Toyota team members who work passionately to produce world-class vehicles here in the Philippines,” he added.
The launch of the new product also supports the Department of Trade and Industry’s (DTI) micro, small, and medium enterprises (MSMEs) program and PEZA’s goal of integrating MSMEs in the ecozone value chain.
“We aim to empower businesses and individuals to achieve their dreams and actively contribute to the nation’s progress. Together, we will continue to banner, ‘Galing ng Gawang Pilipino, Para sa Pilipino’,” noted TMP Chairman Ty.
Originally dubbed as “Hari ng Kalsada”, the Tamaraw served as a workhorse for many Filipino businesses beginning in the 80s until it ceased production in 2005.
Today, the new Tamaraw is expected to meet consumers’ needs with its unique convertible body features: drop side, utility van, and aluminum van with gas and diesel engine options. It also features advanced technology to ensure safety, quality, cost efficiency, and environmental sustainability.
In 2023 alone, Toyota Group exporters, all of which are based in PEZA zones, generated PhP 665 million in export revenues.
The next-generation Tamaraw is expected to be available in the market by January 2025, with a starting price capped below ₱800,000.
