Ayala-led AC Motors said it is looking to bring electric vehicles (EVs) into the domestic market, but stressed that government support would be needed.
AC Motors president for automobile group Antonio Zara III said in a report by The Philippine Star said the company would prioritize this year its continuing study on EVs. The study, he added, is in line with the Ayala group’s goal of achieving net-zero greenhouse gas emissions by 2050.
Zara also stressed, however, that the government should consider lowering import duties on top of excise tax privileges. This would make EV ownership more accessible, and at the same time, protect the public utility vehicles sector and allow easier importation for the private sector.
This comes as the proposed EV law has passed both houses of Congress. In June 2021, In June 2021, the Senate approved Senate Bill 1382 or the proposed EV and Charging Stations (EVCS) Act. The bill aims to establish a national energy policy and regulatory framework for the use of EVs and the construction of charging stations. The House of Representatives, meanwhile, passed its own version in September.
AC Motors owns several Honda, Isuzu, and Kia dealerships in the country. Its sister firm ACEN, meanwhile, is aiming to attain a 5,000-megawatt all-renewable energy portfolio by 2025 as part of its net-zero commitment.