BUSINESS

Marcos signs EO on EV industry revitalization

Raffy Ayeng · Jul 31, 2026, 2:14 AM

Mitsubishi Motors Corporation was among the first to welcome President Ferdinand Marcos Jr.'s signing of Executive Order 121, establishing an Electric Vehicle Incentive Strategy program. MMC has an ongoing P7-billion investment commitment for the production of hybrid electric vehicles in the Philippines, such as the 2026 Mitsubishi Eclipse Cross. — PHOTOGRAPH courtesy of Mitsubishi Motors Corporation

President Ferdinand Marcos Jr. has finally signed and released an Executive Order (EO) that would revitalize and improve the country’s electric vehicle industry.

“The President has issued a new executive order to further strengthen the electric vehicle or EV industry in the Philippines. Under Executive Order 121, there will be an Electric Vehicle Incentive Strategy program, or EVIS. Through this, we will encourage large companies to build and manufacture electric vehicles and their parts right here in the Philippines,” Palace Press Officer, Presidential Communications Office Undersecretary Claire Castro, announced in a briefing on Thursday.

More jobs

Castro said that the EO would create more jobs for engineers, technicians, factory workers, and logistics for local suppliers when investors build manufacturing plants for electric vehicles in the country.

“The government will provide more incentives in the form of tax payment certificates for companies, so that they can be encouraged to invest here in the country. There is also strict monitoring, and there are conditions. Overall, the goal of the EO is to create more jobs, attract new investment, strengthen local manufacturing, reduce our dependence on imported oil, and position the Philippines as an important part of the global EV supply chain,” she said.

“The EVIS Program is hereby adopted to promote local manufacturing of EVs, including their parts and components, attract investments to expand domestic EV manufacturing operations, and develop the Philippines as a regional automotive manufacturing hub, towards increasing the adoption and use of EVs, reducing the country’s dependence on fossil fuels and supporting the achievement of its greenhouse gas emission reduction commitments,” Section 1 of EO 121 read.

Strategic investments

Further, it said that the EVIS Program shall provide time-bound, targeted, performance-based, and transparent fiscal support to encourage strategic investments in domestic EV manufacturing.

“Other non-fiscal measures provided under existing laws, rules, and regulations shall continue to be implemented by the relevant government agencies. The EVIS Program shall provide fiscal support for the manufacture of hybrid and battery EVs, specifically passenger cars and commercial vehicles, including their parts and components, subject to the qualifications, terms and conditions under this Order and its implementing guidelines,” the EO stated.

Mitsubishi welcomes EO

Mitsubishi Motors Philippines Corporation said it welcomes the issuance of the EVIS executive order, which represents a significant step toward accelerating vehicle electrification, strengthening local automotive manufacturing and supporting the continued growth of the Philippine automotive industry.