PRESIDENT Ferdinand R. Marcos, Jr. on Monday urged Tesla, Inc., a multinational automotive and clean energy company, to manufacture electric vehicles (EVs) in the country, citing government efforts to advance the country’s EV transition.
He was speaking at the formal opening of the company’s headquarters in Bonifacio Global City in Taguig City.
“It is our fervent hope that Tesla might one day choose to manufacture its vehicles in the Philippines,” he said, citing the company’s “plans to expand further” in the Philippines.
“Tesla is building a generation of Filipinos equipped to lead in the global shift towards sustainable technologies such as this,” he said.
The Tesla Center Philippines is a 1,900-square-meter showroom, service center, delivery center, headquarters, and main office of Tesla Motors Philippines, Inc., a subsidiary of Tesla.
The subsidiary is responsible for Tesla’s importation, customer support, services, charging infrastructure deployment, and other operations in the Philippines.
Tesla has a market capitalization of above $1.2 trillion, according to a press release from the Presidential Communications Office. Its stock price as of Jan. 20 was valued at $426.50.
Mr. Marcos said Tesla’s entry into the country “will encourage local innovation and drive new investments in the EV sector.”
Tesla’s decision to invest in the Philippines is a recognition of the country’s potential, “underpinned by forward-thinking policies and a collective determination to innovate,” he added.
Mr. Marcos cited advancements in the Philippines’ transition to clean technologies, including the launch in September of the country’s first manufacturing plant for EV batteries.
“With a more conducive and empowering environment now taking shape for the EV industry, I am very optimistic that more companies will seize the opportunity to drive this very vital sector in the coming years,” he said.
Mr. Marcos also cited the removal of excise taxes on battery electric vehicles under the Tax Reform for Acceleration and Inclusion or TRAIN Act, as well as the Electric Vehicle Industry Development Act (EVIDA), which mandated the creation of a strategic roadmap for the country’s EV transition and led to several incentives for users.
The Department of Energy (DoE) in September last year said it was creating guidelines on the construction of EV charging stations in gasoline hubs, in keeping with EVIDA.
Section 19 of the law requires gasoline station owners to install, operate, or maintain a commercial-use charging station for EVs.
The law gives the DoE the power to deny gasoline stations permits if they have no ample space for the EV charging stations.
“What may seem as aspirational today — half of the vehicles in our streets as EVs — will become attainable tomorrow,” Mr. Marcos said.
He said the launch of the Tesla Center Philippines is also a boost to the Filipino workforce, which “will drive this transition forward.”
The Philippines became Tesla’s fourth market in Southeast Asia on Nov. 8, 2024, following Singapore, Thailand, and Malaysia.
“It is a step — a very significant step forward to our long-term transformation towards a more environment-friendly transportation system,” Mr. Marcos said. — Kyle Aristophere T. Atienza
