EV industry records significant growth in 8 years

Meralco to build EV subsidiary

The Department of Energy (DOE) said that the country’s electric vehicle (EV) industry experienced significant growth in the past eight years. 

In a report by Business Mirror, DOE Energy Utilization Management Bureau Director Patrick Aquino said that the DOE will make efforts to ensure the successful implementation of EV initiatives. 

DOE data said that the cumulative number of EV registrations in 2022 was 9,666. Prior to that, the number of registered EVs in 2021 was 8,594; in 2019 was 6,900; in 2018 was 6,194; in 2017 was 2,304, in 2016 was 899, in 2015 was 346; and in 2014 was 145.

With the increasing EVs in the market, aligned with strengthened individual interest, Aquino said that the value proposition of EVs is becoming more evident, especially amid the rising oil prices and growing concerns about pollution. 

Under the Electric Vehicle Industry Development Act, accredited Electric Vehicle Charging Stations (EVCS) providers whose charging fees are in compliance with unbundling requirements, are now permitted to collect charging fees. 

DOE reiterated its commitment to supporting the EV industry through an advisory next month to remind stakeholders of the importance of accreditation, registration, and proper notification of unbundling fees. This is to ensure a smooth and efficient transition to a sustainable transportation landscape in the Philippines.