Soon to riseChery Automobile Company Ltd. (CAC) confirmed its intention to set up a plant in the Philippines within the next 5 years to serve the growing left-hand drive market in the ASEAN region.
In a visit to the Board of Investments (BOI), Mr. Meng Tao, Chery Automobile's Vice President for the Asia Pacific region, told BOI Undersecretary Crisanto L. Panlilio that the Chinese carmaker is looking for a location in the country where the assembly plant will be set-up.
"Part of our five year plan with our new Philippine partner is to set-up local assembly, starting with small-volume production and then proceed to a bigger scale, which means exporting to the other countries in the region including Vietnam, Laos, Cambodia where cars are driven from the left-hand side," says Mr. Tao.
For his part, Chery Motors Philippines Inc. President and Chief Executive Officer, Dr. Si-Chung Chang said his company's 5-year plan is aligned to what the Chery headquarters has in mind. He also confirmed that CMPI is hard at work to start off initial production by the end of this year with a local partner. Two of Chery's compact vehicles are being eyed for the project.
"It will take time but the focus of our energies is the re-establishment of the Chery brand in the Philippines on the long term. We need to take it one step at a time and build up to each step. The assembly plant caps this long term plan," concludes Mr. Tao.