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Demand seen shifting to EVs as incentive plan release approaches
Business World Philippines
|April 23, 2026
THE Department of Trade and Industry (DTI) said it is confident that demand for electric vehicles (EVs) will grow strongly in the wake of the oil price shock, as it prepares to release an incentive program for the segment that could reflect updated demand assumptions.
"Definitely, with the Middle East crisis, many people will shift to EVs," Trade Secretary Ma. Cristina A. Roque told reporters on the sidelines of an event late Tuesday.
The DTI is about to release its Electric Vehicle Incentive Strategy (EVIS), an incentive program designed to attract EV manufacturing. The package on offer consists of incentives worth P15 billion each to four participants that domestically produce four-wheeled EVs.
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