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EV incentive program to yield P120 B investments
The Philippine Star
|June 25, 2025
The Department of Trade and Industry (DTI) expects to generate P120 billion worth of investments and 680,000 jobs under an incentives program that aims to support the development of the local electric vehicle (EV) industry.
Trade Secretary Cristina Roque said in a statement yesterday that the EV Incentive Strategy (EVIS), now awaiting the approval of the Fiscal Incentives Review Board (FIRB), is also expected to bring other benefits to the economy.
Anchored on the Electric Vehicle Industry Development Act, the EVIS will provide fiscal and non-fiscal incentives to encourage the local production of EVs, batteries, motors and components, as well as the deployment of charging stations and testing facilities.
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