Toyota hikes PH investments, pledges P1.1B to PUV modernization — PCO

Japanese company Toyota Motor Corp. has pledged to invest P1.1 billion to the country's Public Utility Vehicle (PUV) modernization program, the Presidential Communications Office (PCO) said Friday.

The PCO said the investment pledge was secured during President Ferdinand "Bongbong" Marcos Jr.'s visit to Japan this month, wherein he had a roundtable discussion with members of the Japanese business community on the sidelines of the 50th Commemorative ASEAN-Japan Friendship and Cooperation Summit.

During the event, Toyota Executive Vice President Yoichi Miyazaki committed the P1.1-billion investment on top of the car manufacturer's prior commitment of P4.4 billion to the Philippines.

"We have completed an investment of P1.3 billion out of P4.4 billion. We are committing an additional PhP1.1 billion for… as a modern jeepney, bringing the total investment to P5.5 billion," Yoichi told President Marcos in an update for their preparation for "the new Tamaraw" light commercial vehicle.

"The Tamaraw symbolizes our desire to contribute to the Philippine economy where we develop it to be a game changer in the field of mobility service… we look forward to your continued support in creating the adoption of the – program," Yoichi added.

According to Toyota Motor Philippines, the Next Generation Tamaraw will be the third completely knocked down (CKD) model to be produced in the company's Santa Rosa plant. The Vios and Innova models are also manufactured in the same facility.

The Chamber of Automotive Manufacturers Association of the Philippines Inc. (CAMPI) reported this month that Toyota Motor Philippines was this year's dominant industry player with a 46.2% market share.

Existing PUV franchise holders would need to consolidate under a transport service entity or cooperative by Dec. 31 this year to enlist themselves under the PUV modernization program, which grants the franchise to transport service entities or cooperatives, not to individuals. If they fail to meet the deadline, they will lose their franchise to operate.

The PUV modernization initiative started in 2017 but it has been marred by delays. Drivers and operators are up in arms over the cost of modern jeepneys, which need to be equipped with the required Euro 4 engine, cost around P2.3 million to P2.8 million per unit. State-run banks have stated that the amount is not viable for PUV drivers.

Last Thursday, the Land Transportation, Franchising and Regulatory Board (LTFRB) allowed PUV operators who have yet to consolidate or submit applications for consolidation to ply select routes until end-January 2024. The allowable routes are those without a consolidated transport service entity (TSE).

However, the Department of Transportation (DOTr) on Friday stood pat that the Dec. 31 deadline stays for individual PUV operators to consolidate.

Transport groups already filed an extremely urgent petition before the Supreme Court to stop the Dec. 31 deadline, saying it would result in a transport crisis since over 20 major routes in Metro Manila have only zero to 50% compliance with the consolidation process for enlistment.

The same transport groups also filed a petition for a temporary restraining order (TRO) last Dec. 20. The Supreme Court has ordered the DOTr and the LTFRB to comment on the said petition on Thursday, or three days before the deadline. — VDV, GMA Integrated News