This underscores the company’s strong confidence in the Philippine economy, as reaffirmed by MMC President and CEO Takao Kato during a meeting with President Ferdinand R. Marcos Jr. and Secretary Frederick Go at the Malacañan Palace Monday.

This strategic move accelerates the localization of advanced hybrid vehicle production, supporting the country’s goals for cleaner transport and higher-value manufacturing.

“This is a landmark investment that will redefine the future of our automotive industry. And the even more exciting possibility is that we could be an exporter of hybrid cars,” said Finance Secretary Frederick D. Go in a news release.

MMC is also looking at the possibility of exporting products from its Laguna plant.

By producing HEVs locally, the Philippines can reduce oil import dependence and cut urban emissions —while aligning with the Electric Vehicle Industry Development Act (EVIDA) and positioning the country for a seamless transition toward full electrification as battery costs decline and renewable energy capacity grows.

This kind of investment becomes more valuable during times of uncertainty, as it will create more job opportunities for Filipinos, while propelling the nation into a more sustainable and technological future.

The Board of Investments is currently finalizing the Electric Vehicle Incentives Strategy (EVIS) program for endorsement to the Fiscal Incentives Review Board (FIRB) and approval of the President. The initiative aims to accelerate investments and reinforce the Philippines’ position as an emerging hub for electric vehicle manufacturing and investment in the region.