THE PHILIPPINE government’s push for renewable energy and electric vehicles (EVs) is expected to play a key role in Mitsubishi Motors Philippines Corp.’s (MMPC) long-term growth strategy, as the company prepares to expand its local operations.
“That includes continued promotion of renewable energy and electric vehicles specifically. We also discussed the Electric Vehicle Incentive Strategy, which is the Comprehensive Automotive Resurgence Strategy-like for electric vehicles,” Board of Investments (BoI) Executive Director for Industry Development Services Ma. Corazon H. Dichosa said in a Viber message following a recent meeting with MMPC.
The meeting reaffirmed MMPC’s intent to remain a major player in the local automotive sector, with the company citing government-led initiatives as critical to sustaining industry growth and the Philippines’ contribution to Mitsubishi Motors’ performance in ASEAN and globally.
MMPC said it has invested over P11.6 billion in local production and operations over the past decade.
It plans to invest an additional P7 billion over the next five years, signaling confidence in the country’s economic fundamentals and policy direction.
A portion of the new investment will support the rollout of a new model to be manufactured at MMPC’s Sta. Rosa, Laguna plant. The company said the investment will ensure the facility can accommodate the new model and meet rising domestic demand, although it did not disclose further details.
“These programs help ensure that the Philippines remains a major contributor to Mitsubishi Motors’ ASEAN performance and global presence,” MMPC said.
The BoI said its policy framework is designed to enhance the country’s investment climate through strategic alignment of incentives, streamlined regulatory processes, and broader support for innovation-driven industries.
Other initiatives discussed during the meeting included the Revitalizing the Automotive Industry for Competitiveness Enhancement Program, the Motor Vehicle Development Program, and the Public Utility Vehicle Modernization Program. — J.I.D. Tabile
