Tag Archives: CARS

Philippines’ Ayala JV Foreign Partner to Produce Autonomous Vehicles

MANILA — Ayala Corp. is prepared to invest up to $100 million to kick-start its effort to make the Philippines a Southeast Asian hub for the manufacture of self-driving cars. That amount represents its 50% initial share in a joint venture planned with a foreign carmaker. The Philippine conglomerate is in talks with “more than three” companies, said Ayala unit

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MVP BMW investment in the Philippines

The Philippine auto industry is set to continue its blistering growth, with sales forecast to rise 25 to 30 percent in 2016 from the previous year. With that, business groups are finding the sector an attractive investment. Toyota Motor Philippines, part of George Ty’s Metrobank group, and Mitsubishi Motor Philippines have signified their interest in the government’s Comprehensive Automotive Resurgence

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