Japanese automotive giant Mitsubishi Motors Corp. (MMC) will soon manufacture hybrid electric vehicles (HEVs) in the country following the launch of a new program that offers incentives totaling ₱60 billion to participating companies. In a statement, the automotive firm said its plan to produce...
President Marcos has issued Executive Order (EO) No. 121 establishing the Electric Vehicle Incentive Strategy (EVIS) Program, a new incentive scheme designed to encourage electric vehicle (EV) manufacturers to invest and produce vehicles and components in the Philippines. Presidential...
The Philippines’ automotive market has received another vote of confidence from Japan, with the Japan Bank for International Cooperation (JBIC) backing a $573-million financing package to support the vehicle sales business of Mitsubishi Motors Finance Philippines Inc. (MMFP). In a statement...
The government is set to soon launch an incentive program aimed at encouraging companies to manufacture electric vehicles (EVs) in the country, with at least four automotive firms already expected to participate. Finance Secretary Frederick Go, President Macos’ point man for investment and...
The Department of Trade and Industry (DTI) is seeing surge of interest from global automotive manufacturers looking to tap into the government’s forthcoming incentive program aimed at establishing the country as a regional hub for electric vehicle (EV) production. Trade Undersecretary and Board...
Japanese automotive giant Mitsubishi Motors Corp. (MMC) plans to begin manufacturing hybrid electric vehicles (HEVs) in the Philippines under the government’s EV industry incentive program, a move seen as helping build the country’s resilience against future oil shocks. MMC, through its local...
The Electric Vehicle Incentives Strategy program (EVIS) being developed by the Board of Investments (BOI) need not mirror or be identical in its entirety to the Comprehensive Automotive Resurgence Strategy (CARS) program, the Department of Justice (DOJ) said. The DOJ’s legal opinion was issued by...
The Department of Trade and Industry (DTI) is now awaiting the approval of the Fiscal Incentives Review Board (FIRB) for the government’s new incentives program for domestic electric vehicle (EV) manufacturing, which is poised to attract ₱120 billion in capital investments. In a statement, DTI...
