The newly signed executive order modifying the tariff on certain electric vehicles (EV) and its parts and components for a period of five years is seen to widen the EV offerings to consumers in the Philippines, the Electric Vehicle Association of the Philippines (EVAP) said.
The statement follows the signing of Executive Order (EO) 12 last January 13. Under the said EO, the most-favored-nation (MFN) tariff rates on completely build-up units of certain EVs, including passenger cars, buses, minibusses, vans, trucks, motorcycles, tricycles, scooters, and bicycles would be temporarily reduced to zero for five years.
Furthermore, The EO lowers the tariff rates of certain parts and components from five percent to one percent.
In a report by the Philippine Star, EVAP president Edmund Araga said that the EV industry would “totally roll out with EO 12” and it opens opportunities for EV enthusiasts and advocates to own a unit.
Araga further said that the new EO would support Republic Act 11687 or the Electric Vehicle Industry Development Act (EVIDA).
Malacanang said in a statement that the EO “will help boost the electronic vehicle market in the country, support the transition to emerging technologies and encourage consumers to consider electric vehicles as a cleaner and greener transportation option.”