Mitsubishi Motors Philippines Corp. is keeping a close watch on the government’s automotive policies, including those of the next administration, before deciding whether to expand local production of internal combustion engine (ICE) vehicles or shift further towards electrified models.
According to Ritsu Imaeda, president of Mitsubishi Philippines, the carmaker’s next investments will depend largely on where government support is directed, although the company is keeping its options open for both technologies.
‘Are we going to go more for EVs, or are we going to go for ICE? We have plan A, B, C, D, E. Because it is very difficult [to predict] how the Philippines is going to change at the next government shift,’ Imaeda said.
‘We don’t have a concrete plan. We have to be flexible,’ he added.
Already, the country’s second-best-selling automotive brand is pursuing a proposed P7-billion investment to establish a hybrid electric vehicle assembly operation at its plant in Santa Rosa, Laguna, under the government’s Electric Vehicle Incentive Strategy.
Mitsubishi is targeting the start of production by mid-2028, with plans to export the locally assembled vehicles to other markets. If realized, the project would mark the first time the Japanese carmaker uses the Philippines as an automotive export hub.
Although the planned investment puts Mitsubishi ‘one step ahead’ in pursuing government incentives for electrified vehicle manufacturing, Imaeda clarified that the company remains open to additional investments in its ICE assembly operations.
The carmaker is also eyeing opportunities under the Revitalizing the Automotive Industry for Competitiveness Enhancement program.