Tag: Automotive Industry
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Philippine Government to Allocate PHP9 Billion for Car Manufacturers Under New RACE Program
The Philippine government is set to launch the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, with a budget of PHP9 billion aimed at supporting participating car manufacturers (PCM). The initiative will be rolled out via a Joint Administrative Order (JAO), as announced by the Department of Trade and Industry (DTI). The RACE program…
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Chinese Electric Vehicle Brand Omoda & Jaecoo Plans to Expand with 24 Dealerships in the Philippines by 2025
On February 18, 2025, the Chinese electric vehicle manufacturer Omoda & Jaecoo kicked off its operations in the Philippines with a grand opening at the BGC Arts Center in Taguig City. The event marked the launch of three new fully electric models: C5, E5, and EJ6, priced between PHP998,000 and PHP1.799 million. The launch comes…
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New Incentives Program to Boost Automotive Manufacturing in the Philippines
The Department of Trade and Industry (DTI) in the Philippines is on the verge of launching a new initiative aimed at drawing automotive manufacturers to establish their production facilities within the country. This new program, named Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE), is a revamped version of the earlier Comprehensive Automotive Resurgence Strategy…
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Mitsubishi Motors to Invest PHP7 Billion in Philippines Over Next Five Years
Mitsubishi Motors Corporation (MMC) has announced a significant investment of approximately PHP7 billion in the Philippines over the next five years, as revealed during a meeting at Malacañan Palace in Manila. The announcement came from MMC’s President and CEO, Takao Kato, during his courtesy visit to President Ferdinand R. Marcos Jr. on February 6, 2025.…
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