Philippine President Ferdinand Marcos Jr. formally welcomed Tesla Inc.’s entry into the Philippines on Monday.
In his remarks, the president stated that the launch of Tesla’s flagship center was a step “towards a more environment-friendly transportation system” in the Philippines. He also stated that Tesla’s arrival in the Philippines was a “significant step in the fight against climate change.”
“While it is true that electric vehicles are currently seen as premium products, Tesla’s entry into the Philippine (market) signals much more than high-tech cars on the road. It is a step-–a very significant step forward to our long-term transformation towards a more environment-friendly transportation system,” Marcos said at the event.
He praised Tesla’s investment, stating that it is a sign that the electric vehicle giant is recognizing the potential of the Philippines. “Tesla, thank you for believing in the Philippines. Your investment in the country extends beyond transportation and infrastructure; it is in the people and potential of the country,” he added.
The Philippines’ EV sector is still in its very early stages, though the national government has introduced measures to make electric cars more compelling to consumers. These include the removal of excise taxes on EV batteries, eliminating tariffs on electric and hybrid vehicles until 2028, and setting a goal for 50% EV market share by 2040.
Philippine President Marcos also shared his goal of Tesla eventually investing in a manufacturing hub in the country.
“More than helping environmental sustainability, Tesla also empowers our workforce. Every hire represents an investment in the Filipino talent that will drive this transition forward. With plans to expand further, Tesla is building a generation of Filipinos equipped to lead in the global shift towards sustainable technologies such as this,” he said.
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