Toyota Revives Tamaraw Model With ₱5.5 Billion Investment

The Philippine Economic Zone Authority (PEZA) has reaffirmed its support for Toyota Motor Philippines Corporation (TMP) and the automotive industry as TMP unveiled the next-generation Tamaraw at the Toyota Sta. Rosa Special Economic Zone in Laguna.

TMP has invested ₱1.1 billion in a new 1.5-hectare conversion facility, bringing their total investment to revive Tamaraw production to ₱5.5 billion. I Photo: Toyota Motor Philippines Facebook

“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 ₱1.1 billion in a new 1.5-hectare conversion facility, bringing their total investment to revive Tamaraw production to ₱5.5 billion.

This integrated vehicle production and conversion process—the first of its kind in the Philippines—is expected to deliver approximately 20,000 units of the Tamaraw with high cost-efficiency, resulting in competitive vehicle prices for Filipinos.

The new Tamaraw vehicles will be the third locally produced model by Toyota in its 78-hectare ecozone in Laguna. This initiative is projected 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 the government’s commitment to supporting the growth of the industry, which has significantly contributed to job creation, technology transfer, and global competitiveness.

Toyota Motor Asia Region Deputy Chief Executive Officer Hao Quoc Tien stated, “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.”

PEZA Chief Tereso Panga added, “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.”

According to TMP, the return of the Tamaraw model, an iconic vehicle in the Philippines, highlights their confidence in the Filipino workforce and the quality of Philippine-made products—capable of competing in the global automotive market.

TMP Chairman Alfred Ty remarked, “It is a testament to our commitment to the nation, 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.