Francisco Motors Corp. (FMC), the Filipino company behind the iconic jeepney, is eyeing an initial P6-billion investment to revive local vehicle production and develop electric vehicles under the government’s Electric Vehicle Incentive Strategy (EVIS).
Trade Secretary Cristina Roque said FMC plans to apply for incentives under EVIS, which is designed to attract investments and build domestic electric vehicle manufacturing capacity.
“They’re actually applying for a slot in the Electric Vehicle Incentive Strategy Program,” Roque said during a House of Representatives budget hearing on Monday.
FMC founder and president Elmer Francisco, however, said formal applications have yet to open as manufacturers await the implementing rules and regulations that will set the application process and timetable.
Francisco said the company is preparing to propose two locally produced models, the Jeepney electric public utility vehicle and the Elektron compact electric SUV, if EVIS allows manufacturers to register two models.
“Our initial investment is $100 million,” or about P6 billion, Francisco said in a text message.
If the EVIS program becomes operational soon, FMC could start commercial production in the Philippines by 2028 to 2029, he said.
The planned investment could mark a return to local vehicle manufacturing for Francisco Motors while positioning the company to tap the country’s shift toward electric mobility.
The Jeepney is being developed for the Philippine public transport market, with FMC also targeting 13 African countries for exports.
The Elektron, meanwhile, is aimed at government agencies, private motorists, transport network vehicle services, and taxi operators. FMC also plans to export the model to other ASEAN markets, taking advantage of preferential trade arrangements under the ASEAN Trade in Goods Agreement.
For the government, FMC’s planned participation could support efforts to establish a stronger domestic EV supply chain while creating opportunities for local manufacturing, jobs, and technology development.
EVIS was established under Executive Order 121 to provide incentives for investments in electric vehicle manufacturing and related activities.
The program is expected to be a key component of the government’s broader strategy to accelerate EV adoption while encouraging manufacturers to produce vehicles locally.
For FMC, the timing could also provide an opportunity to give a modern electric twist to a distinctly Filipino automotive legacy, with the company seeking to move from the traditional jeepney to locally built electric mobility.
