Philippines eyes production of first locally made hybrid cars with Mitsubishi
The Philippines is looking to manufacture its first locally made hybrid cars with the help of Mitsubishi.
In a Facebook post, President Ferdinand "Bongbong" Marcos Jr. shared that he met with Takao Kato, the president and CEO of Mitsubishi Motors on Monday, April 6, "to bring hybrid and electric vehicle production closer to home."
"Their continued investment reflects strong confidence in our economy. More jobs, less dependence on fuel, lower costs for drivers, and more options for every Filipino," he wrote.
In a press release, the Department of Finance said that Mitsubishi Motors Corporation "plans to establish a dedicated hybrid electric vehicle manufacturing capability through Mitsubishi Motors Philippines Corporation at its existing plant in Santa Rosa, Laguna."
Finance Secretary Frederick D. Go called it a "landmark investment that will redefine the future of our automotive industry."
According to him, the "strategic move" will support the country's goals "for cleaner transport and higher-value manufacturing."
"By producing HEVs locally, the Philippines can reduce oil import dependence and cut urban emissions—while aligning with the Electric Vehicle Industry Development Act and positioning the country for a seamless transition toward full electrification as battery costs decline and renewable energy capacity grows," the press release read.
"This kind of investment becomes more valuable during times of uncertainty, as it will create more job opportunities for Filipinos, while propelling the nation into a more sustainable and technological future," it added.
