Perks for EV sector eyed
THE Philippine government is eyeing incentives for businessmen who will invest in the local manufacturing of electric-powered vehicles, the presidential palace said, as investors await policy statements from the government.
In a statement, the palace said Mr. Marcos cited the need for an incentive policy that will cover potential investors in the e-mobility industry during a Cabinet meeting on Tuesday.
The incentives will prioritize local players, “but we’ll take anybody who’s interested,” the President told officials from the Department of Science and Technology.
“They will have to undertake the production design to scale it up to a level to actually make a difference to the market,” he added.
At the meeting, DOST Secretary Renato Solidum, Jr. said potential investors and players including manufacturers and fabricators were waiting for a policy statement from the government.
The palace said the Department of Trade and Industry has been creating a strategic roadmap under the Electric Vehicle Industry Development Act to come up with possible incentives.
It said the government was also working with Philippine company ToJo Motors Corp. “to figure out the necessary policies to make it conducive for locally manufactured e-vehicles, specifically e-trikes and e-jeepneys, to operate in the Philippines.”
Mr. Solidum told the President that e-trikes will soon be mass produced in Isabela, noting many customers are waiting for electric trikes in the market.
“Officials in General Santos City, along with tricycle operators, are also interested,” the palace said, citing the DOST chief. “Local agri-machinery manufacturers could help speed up trike production.”
The DOST has been implementing an e-mobility program map, which includes the conversion of conventional tricycles and buses into electric ones.
The agency has already developed a hybrid electric train and an electric boat.
There were 25,196 registered e-vehicles (EVs) and 705 EV charging stations (EVCS) in the country as of Oct. 18, with 92 accredited EVCS providers, which have already generated 10,407 new jobs and about P1.99 billion in investments, according to the palace. — Kyle Aristophere T. Atienza
