Wednesday, May 18, 2022
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Electric vehicles law attracts 10 new players

Environment friendly. Three-wheeled e-trikes have become popular in small towns replacing noisy tricycles. (BEMAC Photo)

The local electric vehicle (EV) industry expects new investments and new players to come in once the Electric Vehicle Industry Development Act Republic Act (RA) 11697 is fully implemented.

The EV Association of the Philippines (EVAP) said at least 10 companies in various sectors of the industry from four countries are keen on the Philippines in anticipation of the law’s full implementation and the increasing use of EVs in the country.

The interest is also sparked by the move of the government to eliminate tariffs on imported EVs.

Industry officials said President Duterte is set to sign this month the executive order (EO) eliminating the 30-percent duty on EVs.

This would pave the way for the aggressive importation of EVs as early as June.

The EO is seen to hasten the tariff waiver, instead of an implementing rules and regulations which could take longer to issue.

There are more than 20 EV players in the country mostly Chinese firms that employ more than 7,000 workers. These comprise importers and manufacturers, of e-jeepneys, e-trikes, e-cars, e-suvs, e-bus, and e utility vehicles.

Data from the Land Transportation Office showed 13,943 EV units were registered in 2021 with the e-trike segment accounting for 220 units followed by e-motorcycles with 5,520 units, and utility vehicles, 815 units.

Another 311 are electric cars, 43 are sport utility vehicles, 12 trucks, and 10 buses.

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