Philippines Eyes EV Industry Shift From Consumer to Producer
Economy

Philippines Eyes EV Industry Shift From Consumer to Producer

The Philippines is witnessing an acceleration in electric vehicle (EV) adoption driven by rising fuel costs. However, reliance on imported EVs raises concerns about lost opportunities for domestic industry growth, prompting the government to strengthen incentives for local production.

Read up to 3 eligible full articles per Japan day (JST) for free

Create a free account to open up to 3 eligible full articles per Japan calendar day (JST). Headlines and summaries remain available across ASEAN 7.

  • Gov't Asks SC to Define Which Flagged Projects Can Continue

    The Philippine government is seeking clarification from the Supreme Court on which projects under unprogrammed appropriations, declared unconstitutional by the high court, may continue. These funds, included in the 2024 and 2025 national budgets, were deemed unconstitutional.

  • S&P Warns of Stagflation as Philippine Growth Falters

    S&P Global Ratings warns that the Philippines is experiencing stagflation, characterized by sluggish economic growth and high inflation, as surging energy costs and weak government spending weigh on the economy.

  • Philippine Jobless Rate Rises to 5.4% in September Amid Labor Force Surge

    The Philippines' unemployment rate climbed to 5.4% in September, an increase from the previous month and the same period last year, according to the Philippine Statistics Authority (PSA). Despite a rise in the labor force, job creation failed to keep pace, pushing the number of jobless Filipinos to 2.86 million, with businesses adopting a cautious stance on expansion.

  • Philippines Inflation Seen Below 8% as Rate Hike Debate Continues

    Philippines inflation is projected to remain below 8% in the final two months of the year. However, economists are divided on whether the Bangko Sentral ng Pilipinas needs another interest rate hike to curb persistent price pressures, despite falling global oil prices.