Marcos calls for foreign investment in Philippine EV manufacturing sector

President Ferdinand Marcos Jr. on Thursday made a direct appeal to foreign automotive manufacturers to establish operations in the Philippines' growing electric vehicle sector. Speaking during a visit to the manufacturing and assembly facility of Sazgar Philippines Inc., the president emphasized the investment opportunities available in the country's EV industry.

The government's ambitious target aims to have electric vehicles account for 50 percent of the country's total vehicle fleet by 2040. This goal represents a significant shift toward cleaner transportation and reduced emissions in the Philippines.

The president's remarks at the Sazgar Philippines facility underscore the administration's commitment to positioning the country as a competitive hub for EV manufacturing in the Southeast Asian region. The visit highlighted ongoing efforts to attract global automotive players and strengthen the domestic supply chain.

The Philippines has been working to establish itself as a viable destination for electric vehicle production, seeking to leverage its manufacturing capabilities and strategic location in Asia-Pacific. Government incentives and infrastructure development remain key components of the strategy to support the growth of the local EV industry.