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Philippines EV incentive program

Updated 2 times since CLSTR started tracking revisions of this situation.

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2026-08-04 22:02 UTC → 2026-08-27 13:49 UTC · added removed

In late July 2026 2026, the Philippines announced a US$1 billion electric‑vehicle electric-vehicle incentive scheme (EV Incentive Strategy, EVIS) that would cover up to 40 % 40% of costs for fully electric vehicles and 30 % 30% for hybrids, fuel‑cell and plug‑in models, with eligibility tied to a minimum PHP 5 billion investment fuel-cell, and a production quota of 10,000 units. plug-in models. President Ferdinand Marcos Jr. signed Executive Order 121 the same day, formalising formalizing the program and earmarking up to PHP 60 billion in fiscal incentives. Eligibility is tied to a minimum PHP 5 billion investment and a production quota of 10,000 units. The order introduced performance‑based mechanisms – Fixed performance-based mechanisms—Fixed Investment Support and Production Volume Incentives – requiring Incentives—requiring firms to meet investment thresholds, production targets thresholds and to launch up to two locally produced EV models within three years. Finance Secretary Frederick D. Go hailed the initiative as a step toward a globally competitive EV manufacturing sector, expecting reduced fossil‑fuel fossil-fuel imports, quality‑job creation quality-job creation, and a regional automotive hub. By early August August, the government confirmed the time‑bound, performance‑based nature of the support and announced plans to settle roughly PHP 4 billion in outstanding incentives owed to Toyota and Mitsubishi under the earlier Cars program. The Board of Investments is also drafting a new “Race” program with a PHP 9 billion budget for three ICE manufacturers. Mitsubishi Motors Philippines pledged PHP 7 billion to produce the country’s first locally made hybrid EV, while Toyota’s Vios sedan remained EV. By late August, Trade and Industry Secretary Cristina Roque stated the largest beneficiary Department of Trade and Industry (DTI) aims to settle approximately PHP 4.081 billion in unpaid tax certificates using savings from the prior Cars incentives. Department of Public Works and Highways’ 2025 budget. Mitsubishi Motors Philippines Corp. and Francisco Motors Corp. have expressed interest in EVIS, which the DTI expects to finalize within one to two months.

Versions

  1. 2026-08-27 13:49 UTC Philippines EV incentive program
  2. 2026-08-04 22:02 UTC Philippines EV incentive program
  3. 2026-07-31 05:35 UTC Philippines EV incentive program

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