On July 30, 2026, the Philippines unveiled a $1 billion subsidy scheme aimed at jumpstarting its domestic automotive sector and attracting foreign investment as it enters Southeast Asia's intensifying EV race.
Manila is offering up to 40% co-funding for battery models under the program, designed to bolster local EV supply chains.
This comes as VinFast's Philippine affiliate, Green Smart Mobility (GSM), already operates EV taxis in Manila.