Mitsubishi to manufacture PH’s first locally made hybrid cars

Mitsubishi Motors Corporation (MMC) is set to manufacture the Philippines’ first hybrid electric vehicles (HEVs), the Department of Finance (DOF) said Monday, amid surging fuel prices driven by the ongoing conflict in the Middle East.

In a statement, the DOF said MMC plans to establish hybrid electric vehicle manufacturing capability through Mitsubishi Motors Philippines Corp. at its existing plant in Santa Rosa, Laguna.

“This is a landmark investment that will redefine the future of our automotive industry. And the even more exciting possibility is that we could be an exporter of hybrid cars,” Finance Secretary Frederick Go said.

MMC is also considering exporting products from its Laguna plant, the DOF added.

The initiative aims to attract investments and strengthen the Philippines’ position as a growing hub for electric vehicle manufacturing in the region.

The DOF said local production of HEVs could help reduce the country’s dependence on oil imports while lowering urban emissions.

The move aligns with the Electric Vehicle Industry Development Act (EVIDA), which seeks to improve energy security, reduce reliance on imported fuel, and cut pollution.

The Board of Investments is finalizing the Electric Vehicle Incentives Strategy program for endorsement to the Fiscal Incentives Review Board and approval by President Ferdinand Marcos Jr.

Earlier Monday, fuel firms announced another round of oil price increases, marking the 13th consecutive week of hikes for gasoline and the 15th for diesel and kerosene.

Gasoline prices are expected to rise by up to P5.90 per liter, diesel by up to P19.80 per liter, and kerosene by P9.10 per liter. The adjustments will take effect at 6 a.m. on Tuesday, April 7.

On Easter Sunday, US President Donald Trump threatened to target Iran’s power plants and bridges on Tuesday if the Strait of Hormuz is not reopened.

“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!” Trump said in a Truth Social post, referring to the strategic shipping lane that Tehran has effectively restricted amid heightened tensions.

Meanwhile, Anwar Gargash, diplomatic adviser to the United Arab Emirates president, said any settlement of the US-Iran conflict must guarantee access through the Strait of Hormuz, warning that failure to rein in Iran’s nuclear program and its missiles and drones could lead to a more volatile Middle East.

“The Strait of Hormuz cannot be held hostage by any country,” Gargash said, adding that freedom of navigation through the waterway “has to be part and parcel of the settlement of any conflict, with a clear agreement on that.”—MCG, GMA News