Manila: The Philippine government is in the process of developing an incentives program aimed at boosting the domestic production of electric vehicles (EVs), with an executive order (EO) anticipated to be issued within the next three months. This initiative is part of a broader effort to support the country's EV sector through the Electric Vehicle Incentive Strategy (EVIS).

According to Philippines News Agency, Trade and Industry Secretary Ma. Cristina Roque highlighted the government's commitment to fostering growth in the EV industry. "We hope to release it soon. I hope in less than three months," Roque stated during a press briefing with journalists on Wednesday. The government plans to meet with EV manufacturers next week to finalize the incentives program.

Roque emphasized the urgency of the initiative, stating, "We're still trying to fix everything. But we're hoping to release it (EO) soon, especially with the situation now." The incentives are designed to attract investors and stimulate EV manufacturing in the Philippines.

This initiative builds on the success of the Comprehensive Automotive Resurgence Strategy (CARS) program, which has been instrumental in supporting domestic vehicle manufacturing and strengthening the local automotive supply chain. A budget of PHP4.32 billion has been allocated for the CARS program this year. Major carmakers, such as Toyota Motor Philippines Corporation and Mitsubishi Motors Philippines Corp., have actively participated in the program with their Vios and Mirage models, producing 200,000 units each over six years to qualify for incentives.