MANILA, Philippines — In a move toward cleaner transportation and economic expansion, the Philippines is set to produce hybrid electric vehicles locally, in collaboration with Mitsubishi Motors Corporation.
The Department of Finance said the development aligns with the Electric Vehicle Industry Development Act, which promotes sustainable mobility while reducing the nation’s dependence on imported oil.
Finance Secretary Frederick Go emphasized that the investment signals a new direction for the country’s automotive sector, with prospects of eventually exporting hybrid vehicles to international markets.
Production will take place at Mitsubishi’s plant in Santa Rosa, reinforcing the area’s role as a center for industrial activity.
Authorities noted that the transition to hybrid and electric vehicles is becoming more viable due to declining battery costs and expanding renewable energy resources, which can help reduce pollution in major cities.
The government is also preparing an Electric Vehicle Incentives Strategy program through the Board of Investments. Once approved, it is expected to stimulate further investments, create jobs, and position the Philippines as a competitive player in the regional EV manufacturing industry.
ia/xf
