Mitsubishi invests P585 million in right-hand drive L300s

MANILA, Philippines — Mitsubishi Motors Philippines Corp. (MMPC) is spending P585 million more for the manufacture and export of right-hand drive L300 vehicles, according to the Philippine Economic Zone Authority (PEZA).

PEZA director general Charito Plaza said in a Viber message yesterday MMPC hopes to start exporting right-hand drive L300 vehicles to Southeast Asian countries next month.

In a social media post, the PEZA said the registration agreement was signed by MMPC president and CEO Takeshi Hara as an ecozone export enterprise with the investment promotion agency last April 5.

With the signed registration agreement, PEZA said MMPC would have as an additional activity the manufacture of right-hand drive L300 vehicles and the importation of raw materials, machinery, equipment, tools, goods, wares, articles, or merchandise directly used in its registered operations at Greenfield Automotive Park - Special Economic Zone in Sta. Rosa, Laguna.

“According to Mitsubishi, mass production [starts] next week. First export tentatively scheduled third week of May 2022,” Plaza said.

MMPC would be the first automotive company based in the country to export vehicles once its shipments of the L300 vehicles begin.

At present, MMPC assembles the L300 and the Mirage G4 at its plant in Laguna.

The Mirage G4 is MMPC’s entry to the government’s Comprehensive Automotive Resurgence Strategy (CARS), an incentives program for motor vehicle manufacturing.

Under the CARS program, participants have to produce 200,000 units of their enrolled vehicle model over a six year period to avail of incentives from the government.