Sales will commence in January 2025.
TMP chairman Alfred Ty said such a move to localize the model underscores the company’s support to the Philippine government in strengthening the economy, revitalizing local automotive manufacturing and adding new value by reaching new sectors.
TMP’s Santa Rosa plant, with a capacity exceeding 54,800 units annually, now produces three Completely Knocked-Down (CKD) models: The Vios, Innova and Next Generation Tamaraw. The expansion aims to bolster local capabilities and regional competitiveness, drive technology transfer and sustain employment.
With a robust and versatile design primarily for commercial use, TMP also aims to provide an inclusive mobility solution for micro, small and medium enterprises (MSMEs) across various industries nationwide.
“It is the third locally produced model here in our Santa Rosa Plant — built by Filipinos, for Filipinos,” Ty said in his welcome address.
“It is a testament to our commitment to nation-building, our belief in Filipino craftsmanship, and our continuing mission to create ever-better cars for the Philippines.”
In an exclusive plant tour, TMP also showcased its new 1.5-hectare “TMP Conversion Factory,” built with a P1.1 billion investment. This brings the total investment in the IMV 0 project to P5.5 billion, combined with earlier investments in vehicle production, and in-house and outsourced parts localizations.
The newly-constructed facility can convert the vehicle into three Tamaraw body styles — 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.
Toyota Asia Region deputy chief executive officer Hao Quoc Tien noted that the TMP Conversion Factory is a capability breakthrough, being first of its kind in the Southeast Asian region.
