REFORMS on tax and transportation in the country opened more opportunities for electric vehicle players, Electric Vehicle Association of the the Philippines (EVAP) President Rommel Juan has said.
Juan said the Tax Reform for Acceleration and Inclusion (TRAIN) Law promotes the use of e-vehicles in the country with the exemption of e-vehicles from excise tax while imposing higher excise tax on motor vehicles.
Juan said with the exemption of e-vehicles in the new tax law, industry players can consider lowering the price of e-vehicles.
The EVAP chief said the administration’s Public Utility Vehicle (PUV) Modernization Program also offers opportunities to e-vehicle manufacturers as the government pushes for eco-friendly transportation.
Juan said that with the modernization of PUVs, e-vehicle assemblers could take a share in replacing some 200,000 outdated jeepneys in the country.
“And of course, the PUV Modernization Program aimed at replacing some 200,000 jeepneys is also a big potential for the electric jeepneys,” Juan said.
He also noted developments in the local sector including private sector’s investments to set up e-vehicle charging stations in strategic locations.
Meanwhile, the EVAP chief was one of the panelists in Nissan Futures in Singapore last week, wherein a study of Frost & Sullivan showed that the Philippines is at the top of ASEAN’s list in terms of willingness to consider an e-vehicle on their next purchase.
“Frost and Sullivan’s study just proves that our association is on the right track, that we are doing something right in our efforts to promote e-vehicles and e-vehicle technology nationwide. Our efforts are now bearing fruit,” Juan said.