The Market Monitor Minding the Nation's Business
The electric vehicle (EV) industry in the Philippines is experiencing significant growth with an increasing number of EVs available in the market and a surge in individual interest.
Department of Energy director Patrick Aquino believes that EVs are here especially because of rising oil prices and air pollution and that the 11th Philippine EV Summit, where industry leaders and stakeholders are set to converge to discuss the future of EVs in the country, will serve as a platform to solidify the development of the EV industry in the Philippines and the need for collaboration between the public and private sectors.
“The DOE, as the lead agency under EVIDA, will marshal its efforts to ensure the successful implementation of EV initiatives,” Aquino stated. “We are committed to driving the growth of the EV industry in the Philippines and providing a cleaner, more sustainable transportation alternative for our citizens.”
Aquino said the charging station companies under EVIDA (Electric Vehicle Industry Development Act) with accredited Electric Vehicle Charging Stations (EVCS) are now permitted to collect charging fees. The DOE has issued guidelines for this initiative, which include a six-month transition period set to expire on December 6, 2023.