Mitsubishi Motors Corp. plans to produce a new hybrid electric vehicle (HEV) at its Philippine unit’s Santa Rosa, Laguna plant by mid-2028, signaling a major vote of confidence in the country’s still-evolving electric vehicle policy framework.
The move aligns with the government’s proposed Electric Vehicle Incentive Strategy (EVIS), which remains pending an executive order.
Industry sources say the measure has been submitted to the Fiscal Incentives Review Board last year and could be issued soon, with implementing rules to follow.
Mitsubishi’s early commitment suggests it is proceeding ahead of formal policy rollout.
The automaker had also earlier expressed interest in the proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, which has yet to secure approval, leaving questions on the government’s broader incentive direction.
The HEV plan traces back to a February 2025 meeting between Mitsubishi president and CEO Takao Kato and Ferdinand Marcos Jr., where the company signaled intentions to expand local production.
The initiative comes despite a mixed track record under the now-concluded Comprehensive Automotive Resurgence Strategy (CARS). Mitsubishi Motor Philippines Corp. (MMPC) struggled to meet volume targets for its Mirage model during the pandemic, limiting incentive utilization. Industry sources also cite excess inventory and recent operational adjustments, including workforce rationalization.
Still, confidence remains that the HEV project will proceed. MMPC has begun internal discussions and plans facility upgrades to support electrification, although investment figures have not been disclosed.
EVIS aims to attract P120 billion in investments and generate up to 680,000 jobs. It targets production of up to 6.3 million electrified vehicles by 2040 and the rollout of as many as 400,000 charging stations, covering segments from two-wheelers to heavy vehicles.
