MITSUBISHI Motors Corp. wants to participate in the Philippines’ electric vehicle promotion program and expects to start producing a hybrid model in Santa Rosa, Laguna in two years, the Japanese automaker’s local unit said on Monday.
The plans were disclosed during a meeting between President Ferdinand Marcos Jr. and Mitsubishi Motors CEO Takao Kato, Mitsubishi Motors Philippines Corp. said in a statement.
Production of the hybrid electric vehicle, to start “around the middle of calendar year 2028,” is hinged on approval of Mitsubishi Motors’ application to join the Electric Vehicle Incentive Strategy (EVIS) program.
Investments to support domestic production will be made and are expected to “contribute to expanding the local supply chain and generating employment opportunities in the region."
“The Philippines has long been one of our most important markets, where we have engaged in production and sales for many years,” Kato was quoted as saying during the meeting with Marcos.
“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.”
The EVIS program, which is still being finalized, aims to accelerate the development of a domestic electric vehicle industry. Officials have said that it could create around 680,000 new jobs and generate P120 billion in investments. THE MANILA TIMES
