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

Manila offering up to 40% co-funding for battery models to bolster local supply chains A taxi operated by Green Smart Mobility (GSM), a VinFast affiliate, travels on a street in Manila on Dec. 10, 2025. The Philippines is seeking to attract electric-vehicle manufacturing investments through a new incentive program. (Photo by Ken Kobayashi) MANILA — The Philippines has unveiled a $1 billion subsidy scheme to jumpstart its domestic automotive sector and attract foreign investment as it joins Southeast Asia's intensifying electric vehicle race.

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