President Ferdinand R. Marcos Jr. on Monday urged the private sector to invest in electric vehicle (e-vehicle) manufacturing facilities in the Philippines.

“Let me encourage the private sector to participate in our efforts to make the Philippines a part of the global chain of electric vehicles by investing in manufacturing facilities in our country,” Marcos said in his speech during the launch of the Dong Feng Motors in the Philippines held at Metrotent Convention Center in Ortigas.

“Strive with us as we generate more employment opportunities and reach our people’s quality of life and fostering more environmentally friendly communities,” he added.

Marcos said that in return, the Philippines offer fiscal incentives which include income tax holidays, duty exemption of capital equipment, raw materials, and spare parts used in electric vehicles.

According to Marcos, the government aims to increase the share of electric vehicles to 10 percent, or 50 percent by 2040.

He said the shift to electric vehicles is part of measures to uphold the country’s commitment under the Paris Agreement.

“Under this treaty, we pledged to a projected greenhouse gas emissions reduction and avoidance of 75 percent for 2020 to 2030 in agriculture, wastes, industry, transport, and energy,” said Marcos, adding that in the Philippines, the transportation sector is the largest source of energy-related greenhouse gas.

“So, if we aim to fulfill our pledge to the Paris agreement, we need to boost the share of electric vehicles in the total projected vehicle fleet nationwide,” he said.

According to the President, the Philippines only has around 8,800 electric vehicles in the country as of the end of 2020.

To boost this, the government is pushing for the gradual shift to electric vehicles for public transportation through the PUV (public utility vehicle) modernization program.

Marcos said that to date, there are nearly 400 electric public utility vehicles plying 29 routes nationwide.

He thanked Legado Motors Inc. for partnering with Dong Feng for the importation and distribution of e-vehicles in the Philippine market.

“We heartily welcome your efforts to help us actualize our goal to increase the use of electric vehicles in our transportation sector. Considering our continued dependence on imported fuels, and the volatility of oil products in the world market, it is only sensible that we encourage the shift to electric vehicles,” Marcos said. (PNA)

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