Certain fundamental issues surrounding the electric vehicle (EV) sector are needed to be addressed before the said vehicle type can be included under the government’s Comprehensive Automotive Resurgence Strategy (CARS) program.
In a report by the Philippine Star, Trade Secretary Alfredo Pascual said issues concerning electricity prices and prolonged period of setting up of EV charging stations need to be addressed before the remaining slot under the CARS program be given to EVs.
Under Executive Order 182 issued back in 2015, participants under the CARS program would have to produce 200,000 units of the enrolled vehicle model within six years in order to avail of incentives from the government, including fiscal support amounting to Php 9 billion.
Pascual said that there are many preconditions before bringing EVs into the country, including a “critical number” that would bring in charging stations along the way.
Pascual said that the country can be a supplier of EV parts and components instead, citing that the Philippines can be a supplier of critical metals required for Italy’s EV and battery production sector.
The DTI secretary said that the country has potential in green metals, including nickel, cobalt, copper, and nickel ore, allowing the Philippines to be “Italy’s strategic partner in supplying critical minerals needed for Italian electric vehicles and battery production sectors.”
Back in April, Republic Act (RA) 11697, or the Electric Vehicle Industry Development Act lapsed into law. The law aims to promote the EV industry as a “feasible mode of transportation to reduce dependence on fossil fuels.”