MERALCO Exec: PH seeing growth in EV Market

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There is a rising interest in electric vehicles in the Philippines, according to Manila Electric Company (MERALCO) Electric Vehicle (EV) Product Manager Anthony “Tonichi” Agoncillo. 

During his address at the PhilEnergy trade event, Agoncillo emphasized the growing appeal of EVs and predicted a swift transition to electric transportation in the coming years.

Agoncillo reiterated that EV sales in 2023 skyrocketed to 10,602 units from a mere 1,072 units in 2022, partly due to the 100% excise tax exemption for EVs. He noted, however, that the sales figure could have been higher if there were more EV models available in the country. 

“There was a big demand, but the models were not there yet,” said Agoncillo. “But imagine, despite the lack of models available, 10,602 units were sold.” 

Additionally, he predicted exponential growth for EV sales in 2024.

In October 2023, the Electric Vehicle Association of the Philippines projected that cumulative e-vehicle sales in the country would climb to 6.6 million units by 2030.

Agoncillo attributed the surge in EV demand to the implementation of the Electric Vehicle Industry Development Act (EVIDA) Law, enacted in April 2022, as part of the government’s initiative towards environmentally friendly mobility.

The EVIDA Law has provided a comprehensive framework for all EV-related activities, including manufacturing, importation, and regulation while offering incentives to promote EV adoption among Filipino consumers.

“There is no escaping this,” Agoncillo asserted. He also forecasted that both private and public establishments would soon designate parking spaces equipped with charging facilities for EVs, possibly including charging stations at conventional gasoline stations.

Agoncillo assured that MERALCO, as a distribution utility, is gearing up for the anticipated demand for EV charging infrastructures. In 2023, the Pangilinan-led power giant converted 156 units or 7% of its fleet to EVs and installed 39 EV charging stations across its sector offices and business centers, underscoring its commitment to advancing EV adoption in the country.

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