Tuesday, April 16, 2024

Toyota PH forms new subsidiary offering tech-driven solutions

Carmaker Toyota Motor Philippines Corporation (TMP) launched last Friday, Aug. 12, a wholly owned subsidiary called Toyota Mobility Solutions Philippines (TMSPH) which will be a provider of mobility-related services.

TMP and government officials offer a toast for the new subsidiary

TMSPH said it is venturing into the development and offering of a range of “new mobility solutions” through its Vehicle Usership (VU) platforms, which is available for individuals and the business sector.

TMSPH president Ma. Cristina Fe Arevalo defined TMP’s concept of “new mobility” as a suite of technology and data-driven lifestyle and business solutions that can address day-to-day challenges of moving people and goods from one point to another.

“We envision TMSPH to be at the center of the ‘new mobility’ ecosystem as an integrated, ‘one-stop’ mobility solutions provider to help advance businesses and address local communities’ needs,” she explained.

Arevalo highlighted that TMSPH will primarily support the operating efficiency and growth of micro, small and medium-sized enterprises or MSMEs of various industries which are vital in driving economic growth.

TMSPH presented an initial pipeline of services which include fleet-connected service, on-demand shuttle booking app, car sharing or rental, logistics matching service, and fleet management service.

Additionally, TMSPH will complement Toyota Financial Services Philippines Corporation (TFSPH) in promoting and managing units under its full operating lease product called KINTO.

The first of its kind among Toyota affiliates in the Southeast Asian region, TMSPH is considered as a ‘New Mobility Dojo’ that is projected to modernize domestic mobility systems and Internet of Things (IoT), potentially creating employment opportunities for technical but customer-centric professionals.

Meanwhile, the company said the country is currently seeing the fastest adoption rate of electric vehicles (xEV) yet since the very first Hybrid Electric Vehicle (HEV) was introduced commercially in the country in 2009.

TMP, whose HEV Prius pioneered the electrification movement, is leading the shift with 95% of xEV users in the Philippines driving an electrified model from its Toyota and Lexus lines.

Based on the recent official figures from the Chamber of Automotive Manufacturers of the Philippines (CAMPI), as of end of June 2022, there are already 1,013 total xEVs sold in the market, surpassing the 2021 total volume of 843 and 2020’s 378. A total of 962 of the 2022 year-to-date sales are Toyota and Lexus models.

Toyota and Lexus have multiple HEV variants across 10 models — Toyota’s Corolla Altis, Corolla Cross, Prius, Camry, and RAV 4 plus Lexus’ IS, ES, LS, NX and RX.

Globally, Toyota offers a wide range of xEVs including Hybrid Electric Vehicles (HEV), Plug-In Hybrid Electric Vehicles (PHEV), Battery Electric Vehicles (BEV) and the hydrogen-powered Fuel Cell Electric Vehicles (FCEV) which are being rolled-out to different regions.

“The positive impact of xEVs can only be observed once we achieve widescale adoption of these vehicles,” said TMP president Atsuhiro Okamoto. “The exponential growth and the rate of new xEV model introductions in the country are providing Filipino customers more options and easier access to greener technologies.”

TMP said its range of HEVs are appropriate at this time, as they do not rely on charging from fossil-based power sources, but instead generate their own power through self-charging systems.

“Our HEVs are gaining wider acceptance and usage in the country, and this started when we launched the Corolla HEV models. One of the electrified variant nameplate our customers are already familiar with (Corolla Altis), and the other, a competitively priced HEV in an in-demand crossover form (Corolla Cross),” said Okamoto.

“Additionally, we have been making ownership of electrified vehicles more attractive with incentives like the extended 8-year battery warranty. Looking towards the future, we hope to further expand our xEV line-up and offer more choices for the Philippine market,” Okamoto added.


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