ACMobility, the automotive unit of Ayala Corp., anticipates that electrified vehicles—including fully electric cars and hybrids—will represent nearly half of all new vehicle sales by 2030, driven by persistent high oil prices that are steering consumers toward more cost-efficient options.
"We believe that by 2030, nearly 50 percent of new vehicles sold will come from energy vehicles or hybrids," said ACMobility CEO Jaime Alfonso Zobel de Ayala during the company's annual stockholders' meeting.
Recent internal data supports this optimism: EV penetration has already reached between 20 and 23 percent of new car sales in March and April. Showroom visits and online searches have surged, with ACMobility noting a nearly 200 percent increase in search volume for its BYD brand alone.
The appeal of EVs is largely economic. According to the group, running a gasoline sedan costs roughly P7 per kilometer, while charging a battery electric vehicle at home costs only about P2 per kilometer—a 70 percent savings. Even fast charging offers meaningful cost advantages.
Zobel also highlighted that automakers are reorienting their product lines toward electrified models, reinforcing the industry's long-term transition. "A lot of these OEMs are redefining their portfolio into those new technology segments," he said.
ACMobility itself is targeting a 12 percent share of the overall Philippine automotive market this year, with growth led by BYD and Kia. The company previously captured a significant slice of the local new energy vehicle market and aims to strengthen its position as more competitively priced models roll out.