MANILA, Philippines — President Ferdinand Marcos Jr. on Monday met with officials of Mitsubishi Motors Philippines Corporation (MMPC) to discuss the company’s plans to pursue the local production of hybrid electric vehicles (HEVs) in the country.
The initiative would fall under MMPC’s Electric Vehicle Incentive Strategy.
“Their continued investment reflects strong confidence in our economy. More jobs, less dependence on fuel, lower costs for drivers and more options for every Filipino,” Marcos said in a statement.
MMPC’s plan reflects strong investor confidence in the Philippines and reinforces the country’s push toward cleaner, more sustainable transport and a more competitive automotive industry, he added.
The MMPC delegation was led by global CEO Takao Kato.