Insider Spotlight
Driving record growth
The company hit new highs in 2024, selling 215,756 units and posting P242 billion in consolidated revenues—an 8-percent increase year-on-year. The performance secured TMP its 23rd straight “Triple Crown,” topping passenger car, commercial vehicle, and overall sales.
TMP also unveiled a P5.5-billion investment in its Next Generation Tamaraw project, a local vehicle conversion facility aimed at strengthening domestic manufacturing and supply chain resilience.
Hydrogen in focus
At the launch of its 2024 Sustainability Report, TMP showcased the Corolla Cross H2 Concept and hydrogen refueling infrastructure—marking the company’s most concrete signal yet that hydrogen could complement hybrid and EV adoption in the Philippines.
“All these go to show that hydrogen has potential. Our goal is to reduce CO2 emissions through various solutions beyond just electrification. Toyota hopes to bring more possibilities for the Philippines, too,” said TMP president Masando Hashimoto.
The Santa Rosa plant has already shifted to 100 percent renewable energy, and electrified vehicle sales nearly doubled in 2024. But TMP’s hydrogen play hints at a broader ecosystem shift, requiring policy support and infrastructure rollout to succeed.
Beyond carbon neutrality
Hashimoto underscored that Toyota’s strategy is not just about hitting “zero.”
“Achieving zero is no longer enough. We are creating new value—building a future where each move we make is driven by the vision of leaving the world in a better state,” he said.
The bottom line
With electrification gains and a hydrogen pilot, Toyota PH is shaping the country’s clean mobility infrastructure—betting that hydrogen fueling could one day stand alongside EV charging as a viable green transport backbone. —Ed: Vanessa Hidalgo
