The Philippines is moving closer to becoming a hub for electric vehicle manufacturing, with high-level discussions underway for a major investment in the sector, Finance Secretary Frederick Go announced.
“The good news is—and I hope I’m not pre-empting this—there is a company currently talking to the DTI to register to manufacture electric vehicles in the Philippines,” Go told participants at the ASEAN Editors and Economic Opinion Leaders Forum on Tuesday, February 24 in Makati.
Trade Secretary Cristina Roque confirmed that talks are progressing well, although she declined to identify the company. “There’s an EV manufacturing [project]. I can’t say what,” Roque said when asked for details. “Maganda yung discussions.”
Roque expressed optimism that the project could be finalized within the year. “Yes, I hope so,” she said when asked about the timeline, adding that the investment would involve a “substantial investment.”
Pressed on whether the investment could reach around one billion dollars, Roque said: “Maybe. But I can’t say exactly how much. But once we have it, we’ll put it out. We’re still in talks.”
Officials noted that attracting EV manufacturing aligns with the government’s broader economic and energy goals. Roque highlighted the potential to generate jobs, create incentives, and strengthen domestic manufacturing capacity.
“Maganda kasi we want the EVs also here to provide more jobs, give more incentives,” she said, adding that local production would boost employment and domestic value creation.
Industry watchers say the project could mark a turning point for the Philippines in the clean energy transition, positioning the country as a regional destination for advanced manufacturing.
With both the Finance and Trade departments signaling strong support, momentum is building toward a deal that could reshape the country’s automotive and green energy landscape.
