Philippines Attracts EV Makers with New Incentive Program

Apr 13, 2026

52 min

Apr 13, 2026 07:31

EV makers eye Philippines as Manila sets ₱60-billion incentives, ends ICE subsidy amid global oil shock

## Shift in Policy

The Philippine government has introduced a ₱60-billion Electric Vehicle Incentive Strategy (EVIS) to attract electric vehicle (EV) manufacturers. This move comes as the country ends its support for internal combustion engine (ICE) vehicles, previously backed by the Comprehensive Automotive Resurgence Strategy (CARS) and RACE programs.

## Incentives and Goals

EVIS aims to boost local EV production by offering fiscal and non-fiscal incentives, including tax breaks and import duty exemptions. The strategy is part of a broader plan to enhance the country's position in the global EV supply chain and reduce reliance on imported fuel.

## Industry Response

Several Asian and European EV brands have shown interest in the Philippines, encouraged by the new incentives. The initiative aligns with regional trends, as EV sales in Southeast Asia surged by over 60% in 2025.

## Future Prospects

The government plans to prioritize battery manufacturing, assembly, and charging infrastructure. By 2028, Mitsubishi Motors Philippines Corp. aims to produce a hybrid EV model locally, marking a significant step in the country's electrification efforts.

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