The Philippines is taking a major step towards becoming a hub for electric vehicle (EV) manufacturing in Southeast Asia, with the government unveiling a massive 60 billion peso (approximately $1.1 billion USD) incentive scheme to attract foreign investors and boost the country's EV industry. The ambitious plan aims to establish the Philippines as a leading player in the global EV market, with the government setting a target of producing 350,000 EVs per year by 2027. The incentives, which include tax breaks, subsidies, and other forms of support, are expected to attract major EV manufacturers and create thousands of jobs in the process. With the Philippines' strategic location and growing demand for EVs in the region, this move could have significant implications for the country's economy and its role in the global EV supply chain.
Philippines unveils 60bn pesos EV manufacturing incentive scheme Just Auto
