More firms want to join the EV manufacturing program – BOI

Aside from the Mitsubishi Motor Corp. (MMC), Trade and Industry Undersecretary Ceferino S. Rodolfo said there are other seriously interested investors that are considering joining the Electric Vehicle Incentive Strategy  (EVIS) program of the government.

“There are a number of seriously interested investors already,” said Rodolfo, who is also managing head of the Board of Investments spearheading the EVIS program.

Consultations are ongoing regarding the package support and number of players in the program to gauge what level would really be needed by investors. He also confirmed that the issuance of the Executive Order creating the EVIS and its guidelines is expected in the first half of the year.

The EVIS program entails government support in the form of incentives to participants, specifically Fixed Investment Support (FIS) and Production Volume Incentive (PVI). Incentives granted to an EVIS participant will largely depend on its FIS and PVI.

On April 7 this year, MMC announced its intention to participate in the Philippine government’s electric vehicle promotion program via the EVIS and manufacture a dedicated hybrid electric vehicle (HEV) manufacturing plant at its existing plant in Santa Rosa, Laguna, not just for the domestic market, but possibly  for export to other countries.

MMC President and CEO Takao Kato reaffirmed the planned investment during a meeting with Ferdinand R. Marcos Jr. and Secretary Frederick Go at the Malacañan Palace.

MMC through its local subsidiary Mitsubishi Motors Philippines Corp. (MMPC) plans to begin production of a new hybrid electric vehicle (HEV) model at its plant in Santa Rosa City, Laguna, around the middle of calendar year 2028.

During the meeting, Takao Kato, chief executive officer of Mitsubishi Motors, said, “The Philippines has long been one of our most important markets, where we have engaged in production and sales for many years. In cooperation with the Philippine government, we are honored to contribute to the advancement of vehicle electrification and industrial development through the EVIS program, as well as to support the further growth of the Philippine economy.”

In line with the start of production of the new HEV model, MMPC is planning additional investments, including enhancements to its facilities to support electrification. These initiatives will contribute to expanding the local supply chain and generating employment opportunities in the region.

At present, MMPC assembles Mirage, Mirage G4, L300 vans at its 21.4 hectare plant in Sta. Rosa, Laguna, which has a production capacity of 50,000 units a year. It also distributes XForce, Xpander, Xpander Cross, Destinator, Montero Sport, Triton, and Versa Van.