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Philippines EV incentive program

Updated 1 time since CLSTR started tracking revisions of this situation.

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2026-07-31 05:35 UTC → 2026-08-04 22:02 UTC · added removed

In late July 2026 the Philippines announced a major US$1 billion electric‑vehicle incentive scheme aimed at turning the country into a regional automotive hub. The initial rollout described a US$1 billion program (EV Incentive Strategy, EVIS) that would cover up to 40 % of costs for fully electric vehicles and 30 % for hybrids, fuel‑cell and plug‑in models, with eligibility tied to a minimum PHP 5 billion investment and a production quota of 10,000 units. The plan also offered tax credits and capped support at PHP 15 billion per vehicle line, targeting both domestic manufacturers and foreign EV producers. Later the same day President Ferdinand Marcos Jr. signed Executive Order 121, 121 the same day, formalising the EVIS program and earmarking up to PHP 60 billion in fiscal incentives. The order introduced performance‑based mechanisms such as – Fixed Investment Support and Production Volume Incentives, Incentives – requiring firms to meet investment thresholds, production targets and to launch up to two locally produced EV models within three years. Government officials highlighted expected benefits including Finance Secretary Frederick D. Go hailed the initiative as a step toward a globally competitive EV manufacturing sector, expecting reduced fossil‑fuel imports, job quality‑job creation and enhanced competitiveness a regional automotive hub. By early 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 within pledged PHP 7 billion to produce the ASEAN automotive sector. country’s first locally made hybrid EV, while Toyota’s Vios sedan remained the largest beneficiary of the prior Cars incentives.

Versions

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

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