THE Electric Vehicle Incentives Strategy (EVIS) program is up for Malacañang approval and the Trade department still expects this to be secured before President Ferdinand Marcos Jr.’s State of the Nation Address (SONA) later this month.
EVIS was approved by the Fiscal Incentives Review Board in May and is currently with the Office of the Executive Secretary. Trade Undersecretary Ceferino Rodolfo told reporters on Friday that “we are confident that the EVIS EO (executive order) will be issued before the SONA...”
Board of Investments Executive Director Ma. Corazon Dichosa said two companies had expressed interest in joining the program, which will provide incentives to carmakers who build EVs in the country.
Mitsubishi Motors Philippines Corp. earlier this year bared plans to produce hybrid EVs at its Laguna plant by 2028, subject to approval of its EVIS entry.
As for the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, Rodolfo said this was still being reviewed after initially being dropped by the Trade department.
Trade Secretary Cristina Roque reversed the decision after calls for continued support for the manufacturing of internal combustion engine-powered cars.
