Philippines OUT of the Race to be the next EV Investment Hub in SEA

fDi Intelligence: South-East Asia’s EV Investment Race

The fDi Intelligence Website recently released an Article about how a number of South East Asian (SEA) are now in a Race to get Foreign Direct Investments (FDI) for Factories to manufacture Electric Vehicles (EV) and their Batteries, and the Philippines is NOT among those Countries.

The Website instead cites four Particular SEA Countries (which I will now personally call as the “Big Four”): INDONESIA, MALAYSIA, THAILAND and VIETNAM. These four Countries are trying to outbid each other in providing Incentives to attract EV FDIs, and the Incentives usually comes in the form of Tax Breaks. 

And like a “Superhero Team” like the “Avengers” (:D), each Country has its own Strengths when it comes to the EV Market. Indonesia for example has the largest Reserve of Nickel Deposits in the World, making them an ideal Country to build EV Batteries. 

Thailand on the other hand is the largest EV Market in SEA right now, they have adopted the use of such Vehicles way ahead of any other Country in SEA so far. China is now building at least FIVE EV Factories right there as of now. 

Malaysia has the advantage of being the Country where the major United States (US) EV Company Tesla, Incorporated established their Head Office in SEA. So instead of going to a major US Ally like the Philippines for this Investment, Tesla went to Malaysia instead, a major Ally of China. 

Vietnam is so far the only SEA Country with its own major EV Car Brand, VinFast Auto Limited. 

These four Countries (we can call them also as, “The Fantastic Four”, :D) have the advantage of already having established Automobile Markets and Manufacturing Hubs for Internal Combustion Engines (ICE). 

‘Parting Thoughts’

So ‘KULELAT na naman ang Pilipinas, yan ang Legasya ng Impluwensiya ng Estados Unidos sa Bansa natin’ (the Philippines is a Last Placer again, that is the Legacy of the United States’ Influence on our Country), and as I keep saying, “A US Dog will never be an Asian Tiger” …

SOURCE: South-East Asia’s EV Investment Race {Archived Link}

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