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On July 30, the Office of the President of the Philippines issued a statement announcing that President Marcos had signed an executive order establishing the 'Electric Vehicle Incentive Strategy' (EVIS) program to promote local manufacturing of electric vehicles and attract investment. The total incentive amount under the program is capped at 60 billion pesos (approximately $974 million), with each registered model eligible for up to 15 billion pesos. Participating companies are required to make new investments, committing at least 5 billion pesos, meet production targets, and launch locally manufactured electric vehicles within three years of registration. Mitsubishi Motors Philippines has announced its participation and committed to investing 7 billion pesos to produce hybrid vehicles.
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