IPC joins PUV...

come with final vehicle.

The PUV Modernization program has paved the way for the local motor vehicle assemblers to participate in the third slot of the CARS Program of the Board of Investment. The program, which dangles $600 million in tax incentives to three participants that can each produce 200,000 units of new vehicles over a six year period, has already accredited two participants: Toyota Motor Philippines Corp. and Mitsubishi Motors Philippines Corp.

But the third slot for PUV Modernization will be unique in such a way that there will be some players involved not just one that will produce new vehicles to replace the old jeepneys. It is unlikely that the entire projected 200,000 units in jeepney replacements will be cornered by one assembler alone.

IPC alone does not know yet how much volume they maybe able to produce or if the volume will be assigned by the government or through a competitive bidding. Aside from the two other interested local players – Hino and Fuso, there are also Chinese-owned firms interested to participate in the program.

The Isuzu prototype model along with the other prototypes of other interested assemblers will be showcased at the 1st Philippine Auto Parts Expo (PhilAPEX) at the Philippine Trade Training Center (PTTC) on October 12-13, 2017. Two other vehicle assemblers Hino and Fuso were said to be interested and presenting their prototypes. There are also other Chinese firms expected to participate.