Mitsubishi Motors Philippines Corporation (MMPC) is weighing plans to construct a battery production facility for electric vehicles.

The move forms part of a proposed 7bn peso ($114.3m) investment under the Philippines' Electric Vehicle Incentive Strategy (EVIS).

It follows an executive order signed last month by President Ferdinand R Marcos Jr, which paved the way for EVIS to support domestic manufacturing of EVs and related components.

Under the scheme, companies investing in local EV production stand to receive fiscal support worth up to 60bn pesos.

According to MMPC chairperson Noriaki Hirakata, the firm has already engaged in talks with a number of government officials over its plan to commit "at least 7bn pesos" under EVIS, though it is holding off on further action until the programme's detailed rules are published.

“We will make the new technology equal to our production facility in Thailand or Indonesia. We want our plant to be competitive compared with other plants in Asia, even in Japan. We will try to localise this programme as much as possible. It does not have to be overnight, (but) step by step”, Noriaki added.

Officials have said EVIS should widen the range of EV options available to Filipino consumers as the country moves toward greater reliance on renewable energy and away from imported oil.

Authorities also project that once local EV manufacturing reaches full operation, prices could drop by between 6% and 12% versus current levels – a reduction they expect would broaden consumer adoption of EVs.

In a separate announcement made in May, Mitsubishi Motors Corporation (MMC) confirmed that its forthcoming cross-country SUV will carry the Pajero name. The vehicle is due to make its world premiere in autumn 2026.

Separately, VinFast was named in June among a group of Vietnamese companies being evaluated for investment in Philippine economic zones, a development that came in the wake of a diplomatic upgrade between the two nations.