Philippines EV Prices Seen Falling 6-12% After Marcos Order

Trade Secretary Ma. Cristina Roque called the order "a landmark policy that strengthens the Philippines' position as an emerging hub for electric vehicle manufacturing in the region." She said the EVIS program is designed to create a local manufacturing ecosystem that attracts technology and investment, and deepens the country's participation in global supply chains. "We are laying the foundation for a greener, more resilient and more globally competitive economy," Roque added.

Transportation consumes most of the country's imported petroleum, Garin noted. "Every electric vehicle powered increasingly by Philippine-generated electricity helps reduce our dependence on imported fuel, protects consumers from volatile global oil prices, strengthens our energy resilience and supports a cleaner and more sustainable transport system," she said.

The EO also creates an Inter-Agency Committee on Electric Vehicle Industry Development, bringing together the Department of Energy, the Department of Trade and Industry, the Board of Investments, the Department of Finance, the Department of Transportation, the Department of Budget and Management, and the private sector. The committee will coordinate implementation of the incentives and track progress toward the government's goal of wider EV adoption as the country shifts to renewable energy.