Mitsubishi weighs ICE vs EV expansion as Philippines offers new auto incentives

Mitsubishi Motors Philippines Corp. is awaiting clarity on the next Philippine government's automotive strategy before deciding on its future capital spending. Ritsu Imaeda said the firm has multiple scenarios - from electric to internal-combustion - and must stay flexible as policy directions evolve. A P7-billion plan to build a hybrid electric vehicle assembly line at its Santa Rosa plant is slated for mid-2028, with the aim of using the Philippines as an export hub.

While this move aligns with the government's Electric Vehicle Incentive Strategy, Mitsubishi has not ruled out further investment in its ICE assembly capacity. The company is also exploring prospects under the Revitalizing the Automotive Industry for Competitiveness Enhancement programme. Decisions will ultimately depend on where government incentives are directed.