Mitsubishi unveiled its plant in Manila, Philippines on Thursday, saying that it is capable of producing up to 50,000 cars annually.
“The transfer is a strategic move that will enable us to adapt better to our growing industry,” Hikosaburo Shibata, president of Mitsubishi Motors Philippines Corp (MMPC) said.
The Philippine unit of Japan’s Mitsubishi Motors Corp also said on Thursday that it will increase output by up to 6 percent this year but refrain from producing new models pending the release by the government of an automotive industry masterplan.
Top Japanese automakers in the Philippines have previously said they may shift production to cheaper Southeast Asian countries as the government drags its feet on a plan to rebuild its shrinking car manufacturing sector.
Mitsubishi Motors Philippines is the second-biggest automaker in the country by sales volume after Toyota Motor Corp.