Hanoi (VNA) – The Philippines is set to produce its first domestically made hybrid electric vehicles (HEVs) after Mitsubishi Motors Corp. (MMC) announced plans to establish a dedicated production line at its plant in Santa Rosa, Laguna.
MMC President and CEO Takao Kato presented the plan during a meeting with President Ferdinand R. Marcos Jr. and Finance Secretary Frederick Go on April 6, highlighting investor confidence in the Philippine economy.
Go described the investment as a milestone that could reshape the country’s automotive industry and potentially position the Philippines as a hybrid vehicle exporter.
Implemented through Mitsubishi Motors Philippines Corp., the project aims to localise advanced vehicle production, support clean transport goals and develop high-value industries. Domestic HEV production is expected to reduce fuel import dependence and urban emissions, in line with the Electric Vehicle Industry Development Act.
MMC is also studying the possibility of exporting hybrid vehicles from the Laguna facility, which could turn the Philippines into a regional hub for next-generation automobile manufacturing. President Marcos welcomed the move, noting it would create jobs, lower fuel dependence and expand vehicle options for locals in the Philippines./.
Philippines reduces tariffs on imported EVs
The President office of the Philippines recently announced that the country will reduce tariff rates on imported electric vehicles (EV), parts and components, to boost the EV market in the country.
