Nissan eyes Asean scheme

Nissan Motor Philippines Inc. (NMPI) is also interested in availing of the ASEAN Investment Cooperation (AICO) scheme which would allow it to import completely built-up (CBU) units from its regional counterpart and vice-versa.

NMPI executive vice president Jack Wu said yesterday that NMPI’s mother firm is already evaluating such a plan. "We are studying it." It is a possibility," Wu said.

Under the so-called AICO scheme, participating companies can exchange products under a preferential tariff rate of between zero to five percent.

Ford Motor Co. Philippines had been the first to express its intent to avail of the AICO scheme.

Ford disclosed that it would export the locally assembled Lynx and Escape to its counterpart in Thailand in exchange for the importation of Volvo and Ranger models.

However, while Nissan has expressed a desire to avail of the AICO scheme, the Board of Investments has not received any formal application yet from the car firm.

Wu said that Nissan wants to bring in a multi-purpose vehicle to replace its Vanette.

"The multi-purpose vehicle, would be a CBU and would not be assembled locally," Wu said.

Wu, however, did not link the importation of a multi purpose vehicle to its plan to tap the AICO scheme.

He declined to elaborate on exactly what type of vehicle it is eyeing for the AICO scheme, except to say that it would not be a passenger car.

At present, Nissan assembles the Sentra locally.