Yamaha to Double Motorcycle Production in Philippines
Malvar, Philippines, May 23 (Jiji Press)--Japan's Yamaha Motor Co. <7272> will spend 3.1 billion yen to double its annual motorcycle output in the Philippines to 800,000 units, officials said Thursday.
Yamaha Motor will expand its local plant that mainly makes motor scooters, with the expanded section set to start operations in July 2020.
The company aims to boost annual sales in the Southeast Asian country to one million units for a market share of 40 pct by 2023.
The expansion will directly create 200 jobs.
The number of employees at the plant is expected to increase to 2,000 from the current 1,400 in 2021, when its production is expected to reach 800,000 units.
[Copyright The Jiji Press, Ltd.]