Marcos hopes Tesla will consider Philippines as manufacturing site

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'Tesla’s decision to invest in the Philippines is a recognition of our nation’s potential, underpinned by forward-thinking policies and a collective determination to innovate,' says President Ferdinand Marcos Jr.

MANILA, Philippines – President Ferdinand Marcos Jr. is knocking on the doors of Elon Musk — the businesman who helped get Donald Trump elected in the United States — to consider the Philippines as a manufacturing site for his electric vehicles (EV) business,

Marcos checked out the new 1,900-square-meter Tesla Center at Taguig City on Monday, January 20, over two months after the Musk-owned EV company set up shop in Manila. Tesla Motors Philippines is a subsidiary of the Nasdaq-listed Tesla, Inc.

“Tesla’s decision to invest in the Philippines is a recognition of our nation’s potential, underpinned by forward-thinking policies and a collective determination to innovate,” Marcos said in his speech.

“It is our fervent hope that Tesla might one day choose to manufacture its vehicles in the Philippines,” he added.

Tesla is one of the companies of Musk, who is now among the powerful businessmen in the US. He also bought Twitter (now called “X”) for $44 billion in 2022 and owns space company SpaceX, and founded its subsidiary, Starlink.

After donating millions of dollars to help Trump’s campaign, Musk was handpicked by the president-elect to lead a new proposed agency — the “Department of Government Efficiency.”

Tesla opened its fourth showroom in Southeast Asia along Uptown Parade in Bonifacio Global City last November, making available Tesla models 3 and Y in the country for just over P2 million. The other stores are located in Malaysia, Thailand, and Singapore.

Tesla representatives said the first orders from the Philippines will arrive in early 2025.

Marcos touted on Monday the country’s efforts to encourage the public to consider EVs for a more “sustainable” mode of private transportation.

For instance, the Tax Reform for Acceleration and Inclusion (TRAIN) Act removes excise taxes on battery EVs. The Electric Vehicle Industry Development (EVIDA) Act also provides that charging stations be imported into the country duty-free.

“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,” Marcos said.

“It is a step — a very significant step forward to our long-term transformation towards a more environment-friendly transportation system.”

The Philippines has a goal — to have electric vehicles have 50% market share in the country by 2040. Although industry authorities are not expecting EV sales in 2024 to reach 10% of total vehicle sales in the country. – Rappler.com