The story
The company's predecessor, Canlubang Automotive Resources Corporation (CARCO), was originally established as Chrysler Philippines Corporation in 1963 as the assembler and distributor of Chrysler, Dodge and Plymouth cars in the Philippines. In May 1972, C. J. Yulo & Sons acquired 65% interest in Chrysler Philippines Corporation, with the balance 35% being acquired by Mitsubishi Motors Corporation (MMC) and Nissho Iwai Corporation (now Sojitz Corporation). In 1974, the company introduced Mitsubishi cars in the Philippines. In 1978, the company was renamed Canlubang Automotive Resources Corporation (CARCO). In 1985, MMC and Nissho Iwai Corporation (now known as Sojitz Corporation) acquired full ownership of CARCO from the Yulo group.
In January 1987, Philippine Automotive Manufacturing Corporation (PAMCOR) was incorporated by MMC and Nissho Iwai to formally take over the operations and business activities of CARCO. In April 1996, MMC became the majority shareholder (51%) of PAMCOR after it acquired 1% of Nissho Iwai's share in the company. In August 1996, PAMCOR was renamed Mitsubishi Motors Philippines Corporation (MMPC).
On June 1, 2018, Sojitz Corporation (formerly Nissho Iwai Corporation) completed its divestment from MMPC with the acquisition of its 49% stake in MMPC by MMC. As a result, MMPC becomes a 100% wholly owned subsidiary of MMC.
On November 22, 2018, Mitsubishi Fuso Truck and Bus Corporation announced that Sojitz Fuso Philippines Corporation would take over from MMPC as the general distributor of Fuso products in the Philippines effective the first quarter of 2019.
In February 2020, MMPC moved its offices (including sales and marketing, government affairs, service, parts, accessories and finance on personnel) to EcoTower Building in Bonifacio Global City, Taguig.
In July 2020, the company produced the 200,000th unit of their best-selling L300 truck, and it will be exported to other Southeast Asian countries, particularly in Indonesia, starting in 2022.
From Wikipedia’s article on Mitsubishi Motors Philippines, shared under CC BY-SA 4.0.4