BYD builds EV inventory in PHL as oil prices spur demand

By Beatriz Marie D. Cruz, Senior Reporter

CHINESE electric carmaker BYD Cars Philippines is ramping up inventory in anticipation of stronger electric vehicle (EV) demand in the country, as rising oil prices are expected to push more consumers to shift to EVs.

Global oil prices have risen in recent weeks, with Brent crude averaging around $100.75 per barrel as of April 12, driven by disruptions caused by tensions in the Middle East.

In the Philippines, pump prices have increased by a cumulative P52.30 per liter for gasoline and P100.50 for diesel since Feb. 28, based on Department of Energy (DoE) data.

Higher fuel prices tend to raise the operating cost of conventional vehicles, which may make electric vehicles a more cost-efficient option over time.

“We didn’t know that this would be happening in our country, but we had the inventory on hand,” BYD Cars Philippines Executive Director Bob Palanca told reporters on the sidelines of the Manila International Auto Show last week.

“We can easily react because our manufacturing plant is just two hours away from the Philippines, so it would be very easy for us to access vehicles,” he added.

Mr. Palanca said all BYD vehicles are sourced from China and sold in the Philippines by Ayala-led AC Mobility Holdings, Inc., its official distributor.

He said the Philippine team is preparing for a possible increase in EV demand amid the ongoing oil crisis.

“We’re prepared to provide all the vehicles the market requires, no matter how huge that is.”

The company has sold more than 30,000 EV units in the Philippines so far.

Mr. Palanca said demand varies by location. Subcompact EVs are more popular in Metro Manila, while electric pickup trucks see stronger demand in provincial markets.

BYD Cars Philippines reported a 446% increase in retail sales to 26,122 units in 2025.

Electric vehicles still account for a small share of total vehicle sales in the Philippines, estimated at 7.25% as of end-February, but adoption has been gradually increasing, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association.

Industry players have noted that rising fuel costs can influence consumer interest in alternative mobility options, including electric vehicles.

Mr. Palanca said the company is preparing for another vehicle launch this year but did not provide further details.

He said the planned launch had been set before the recent increase in EV demand.

“We need to ensure that we have the full lineup for the Philippine market. We’d like to cater to every need of the Filipino — from an affordable vehicle, subcompact, hatchback, all the way to our pickups,” Mr. Palanca noted.

The company currently has 79 dealerships nationwide, he said.

“I think that’s sufficient enough to support all our UIOs or units in operation as well as the services that we can cater to the customers,” Mr. Palanca said.

However, wider EV adoption in the Philippines continues to face challenges such as high vehicle prices and limited charging infrastructure, according to industry players.

Mr. Palanca said retail prices of BYD vehicles remain steady, but he did not indicate whether adjustments may be made.