Government aims to finalize EVIS rules this month
After missing its September target, the government is aiming to finalize the Electric Vehicle Incentive Strategy implementing rules and regulations by the end of the month, the Department of Trade and Industry said.
The Philippine government is working towards finalizing the Electric Vehicle Incentive Strategy (EVIS) implementing rules and regulations (IRR) by the end of the month, despite missing its September deadline, according to the Department of Trade and Industry (DTI). The Board of Investments (BOI) is currently consolidating comments from the Inter-Agency Committee on Electric Vehicles (IAC-EV) and is scheduled to discuss and harmonize remaining inputs to the EVIS IRR.
Once finalized, the draft will undergo legal review. The EVIS aims to encourage local EV manufacturing by providing up to P60 billion in incentives. The program has four slots for selected models, with up to P15 billion in incentives per model. Interested firms, such as Mitsubishi Motors Philippines Corp. and Francisco Motors, have expressed interest in participating.
The BOI aims to enroll all EVIS participants within the year, with construction of facilities and trial production beginning the following year, with participants aiming to start commercial production before President Marcos' term ends in 2028.
Brief written by urgent.news from Philippine Star Business's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
