MANILA, Philippines — GT Capital Holdings Inc., the listed holding company of the Ty Group, expects to get a significant boost with the introduction of the Next Generation Tamaraw by the Toyota Motor Philippines.
TMP last week unveiled the Next Generation Tamaraw in a nationwide launch held in Metro Manila, Laguna, Pampanga, Cebu City, Davao City and Cagayan de Oro City.
GT Capital, a joint venture partner of Toyota Motor Corp. and Mitsui & Co. Ltd. in TMP, regarded the new model as a “game changer” in the Philippine automotive space.
The company is optimistic that the Tamaraw will not only be a valuable addition to its automotive arm’s diverse vehicle line-up, but will also help boost the growth of the country’s local automotive sector and the economy in general.
“It truly is a game changer. We are confident that the Next Generation Toyota Tamaraw will help propel TMP and GT Capital forward,” GT Capital Auto & Mobility Holdings Inc. chairman Vince Socco said.
With the Tamaraw being the third model that is locally produced at TMP’s Santa Rosa factory, Socco said TMP and GT Capital would be able to enhance its contribution to nation building through increased employment, technology transfer and higher payments of taxes and duties to the government.
As of October, he said TMP has remitted almost P30 billion to the government while sustaining almost 70,000 jobs for Filipinos directly and through its network of suppliers, dealers, affiliates and business partners.
A revival of the iconic Tamaraw nameplate, the new model is based on Toyota’s global international multi-purpose vehicle platform.
According to GT Capital, the new TMP conversion factory in Sta. Rosa has the capability to build three Tamaraw rear-body types – dropside, utility van and aluminum van – with both gas and diesel engine options.
GT Capital added that the Philippines is only one of two production bases for the IMV-0 or Tamaraw in Toyota’s global supply chain, the other being Thailand.
“The Next Generation Tamaraw sets a new benchmark in the Philippine automotive industry. With its numerous customization options, we expect this to make mobility solutions even more inclusive and accessible to micro, small and medium-sized enterprises from across a wide range of industries,” Socco said.