Aisin increases equity participation in Toyota Autoparts Philippines

0

Toyota and Aisin have agreed to increase Aisin’s equity participation in Toyota Autoparts Philippines (TAP) from the current 34% to 61% and to make it Aisin’s subsidiary. The arrangement aims to strengthen TAP’s competitiveness in the manual transmission business.

As part of the agreement TAP will be renamed Toyota Aisin Philippines, and Aisin will take the lead in managing the new company’s business operations. Following the organizational change, TAP will seek more efficient production – leveraging its expertise, knowledge, leading technological capabilities and diverse line-up of transmissions.

In the future, Aisin will consolidate part of their manual transmission production currently handled by Aisin AI, to TAP, and invest approximately US$22.5m to set up automatic transmission component production lines.

Toyota and Aisin will further strengthen their collaboration through the optimization of the powertrain production system and new product development. The Aisin Group, as a whole, aims to improve its competitiveness in the powertrain business.

Share.

About Author

mm

Sam joined the UKi Media & Events automotive team in 2017, having recently graduated from the University of Brighton with a degree in journalism. For the newest addition to the editorial team, stepping into the assistant editor position signalled the start of a career in the subject he studied. In addition to his work on UKi’s automotive titles, Sam also contributes to Stadia, writing content for the magazine and website.

Comments are closed.