Philippines joins Southeast Asia’s EV race with $1bn manufacturing subsidy

The Philippines has unveiled a $1 billion subsidy scheme aimed at jumpstarting domestic automotive manufacturing as it joins Southeast Asia’s growing electric-vehicle race. The programme offers co-funding—up to 40%—for battery-related models to encourage local supply chains and reduce reliance on imports. Manila is pitching the incentives to attract foreign and joint-venture investment in EV production, particularly in areas tied to batteries and components. The plan also signals the Philippines is seeking to position itself as a manufacturing hub as regional EV demand accelerates.