The Department of Energy (DOE) is bullish about this year’s extension of the subsidies for the entry of electric vehicles (EVs) to include two- and three-wheeled models.
According to President Marcos Jr.’s Executive Order 12, EVs were subject to a zero tariff, but just for four-wheeled cars.
DOE Undersecretary Felix Fuentebella clarified that the energy department was working with the Department of Trade and Industry (DTI) to develop a cost-benefit study after having previously addressed the extension with the Tariff Commission and Energy Utilization Management Bureau (EUMB).
The extension would be considered over the next month, and with this extension, the DOE believed that it would open avenues for consumers to consider EVs over traditional vehicles. The DTI and the National Economic and Development Authority (NEDA) also shared the same sentiments.
Although reaching the 50% goal share of electric vehicles in the entire country by 2040 would not be easy, the energy department remained optimistic that it is feasible.
The DOE said that the number of EVs sold exceeded the total amount of EV sales for the preceding three years in just the first quarter of 2023.
With the exception of EV trucks, the Comprehensive Roadmap for the Electric Vehicle Industry established a minimum proportional share of EVs for all industries at 10% by 2040.
One government initiative to promote EVs in the country is EO 12, which lowered tariff rates to zero percent on fully assembled units of particular EVs for five years.
