The Department of Energy (DOE) said that the government may release its zero-tariff policy on electric vehicle (EVs) imports by the end of the year.
In a Philippine Star report, DOE director Patrick Aquino said at the 10th Philippine Electric Vehicle Summit that the government has been moving in order to bring down ad valorem tariffs of EVs to zero.
Aquino said that the proposal is pending with the Committee on Tariffs and Related Matters.
In a hearing with the Tariff Commission last May, DTI Board of Investments chief investment specialist Reynaldo Lignes said that the zero-tariff scheme would “drive down the purchase price of EVs, thereby generating demand and encouraging investments in charging stations and most importantly, to reduce the country’s vulnerability to heavy dependence on oil imports,”
Lignes added that strong demand for EVs could promote local investments in parts manufacturing, battery manufacturing, mining, and the electronics industry, as well as building a pool of human resource capabilities on EV technology.
In April this year, Republic Act 11697 or the Electric Vehicle Industry Development Act (EVIDA) lapsed into law, which according to the DTI, would place the Philippines in a stronger position to attract investments for EVs in the country.