By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.
MANILA, Philippines – Two new incentive packages for carmakers planning to manufacture vehicles in the Philippines are being firmed up, with electric vehicle (EV) producers poised to receive substantially bigger government support than their internal combustion engine (ICE) counterparts.
According to Trade Undersecretary Ceferino Rodolfo, the proposed Electric Vehicle Incentive Strategy (Evis) carries a P60-billion budget for up to four manufacturers, each eligible for incentives of P15 billion.
READ: DTI in talks with 2 carmakers for Evis perks
By comparison, the revived Revitalizing the Automotive Industry for Competitiveness Enhancement (Race) program is being designed with a P9-billion budget for three ICE manufacturers, or P3 billion each over a three-year period.
