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

Electric vehiclesManila offering up to 40% co-funding for battery models to bolster local supply chainsA 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)RAMON ROYANDOYANJuly 30, 2026 18:21 JSTMANILA -- 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.