Luxury carmaker BMW Group is eyeing to source more automotive vehicle parts from the Philippines, Department of Trade and Industry (DTI) Secretary Ramon Lopez said.
“I met BMW group also and they will be sourcing more automotive electronic parts from the Philippines as part of its ASEAN strategy,” Lopez told reporters in a text message.
The DTI chief was in Germany last week and met with various German business chambers and companies where he also promoted the ‘Dutertenomics’.
Lopez said that BMW was now importing an average of 16 million euros, or about PHP925 million worth of auto parts such as components and electronic control units from the Philippines annually.
“[BMW] intends to increase that value in the coming years in support of its ASEAN strategy, which identified Thailand and Malaysia as its manufacturing hubs in the region and Philippines as auto parts supplier,” he noted.
Data from the Philippine Statistics Authority (PSA) showed that the country’s export of automotive electronics in 2016 grew 30.4 percent to USD146 million from USD112 million in 2015.
“BMW also intends to bring latest plug-in hybrid vehicles and collaborate with local Electric Vehicle Association of the Philippines in building the necessary e-vehicle infrastructures such as the setting-up of charging stations in the country,” Lopez added. (Kris M. Crismundo/PNA)