MANILA — In a strategic move amid global energy uncertainty, Mitsubishi Motors Corp. has announced plans to manufacture the Philippines' first domestically produced hybrid electric vehicles (EVs), targeting a mid-2028 production start.
Executives from the Japanese automaker met with President Ferdinand Marcos Jr. and key economic officials at Malacañang on April 6 to finalize the landmark investment. The initiative comes as soaring fuel prices, exacerbated by the ongoing Middle East crisis, accelerate consumer interest in alternative mobility solutions.
"The Philippines has long been one of our most important markets," said Mitsubishi President and CEO Takao Kato. "We are honored to contribute to the advancement of vehicle electrification and industrial development here."
The new hybrid EV model will be produced at Mitsubishi's existing plant in Santa Rosa, Laguna. The company plans significant facility upgrades to support electrification, alongside efforts to bolster the local supply chain and create new jobs. Production is contingent upon the company's successful application for the Philippines' forthcoming Electric Vehicle Incentive Strategy (EVIS) program—a fiscal package expected within the first half of the year.
Government officials hailed the investment as transformative. "This is a landmark investment that will redefine the future of our automotive industry," said Finance Secretary Frederick Go. "The even more exciting possibility is that we could become an exporter of hybrid cars."
The move strategically positions the Philippines to compete in Asia's rapidly growing EV manufacturing arena. Within days of the announcement, the Department of Trade and Industry designated EVIS as its flagship automotive incentives program, signaling a clear policy pivot toward next-generation vehicle production.