MANILA, Philippines — After missing its September target, the government is aiming to finalize the Electric Vehicle Incentive Strategy (EVIS)’s implementing rules and regulations (IRR) by the end of the month, the Department of Trade and Industry (DTI) said.
“The Board of Investments (BOI) is currently consolidating the comments of the members of the Inter-Agency Committee on Electric Vehicles (IAC-EV) and is scheduling a meeting to discuss and harmonize the remaining inputs to the EVIS IRR,” Trade Secretary and BOI chair Cristina Roque told The STAR.
She said the target is to hold the meeting by the end of the month to finalize the draft IRR.
The BOI chairs the IAC-EV, which includes the Department of Finance, Department of Energy, Department of Transportation and Department of Budget and Management as members.
“After the meeting, the draft will have to go through legal review,” Roque said.
Earlier, the BOI said the agency targeted issuing the EVIS last month and opening the application period this month.
Through the EVIS, the government aims to encourage local EV manufacturing by providing up to P60 billion worth of incentives.
Under the program, the government will open slots for four models that will receive up to P15 billion in incentives.
Earlier, BOI executive director Corazon Dichosa said that several firms have expressed interest in joining the EVIS. Firms that have expressed interest in participating in the program are Mitsubishi Motors Philippines Corp. and Francisco Motors.
If demand exceeds the available slots, the interagency will recommend approving the top four qualified applicants based on the project’s fiscal and economic impact and contribution to the domestic economy.
Dichosa said earlier that the BOI wants all EVIS participants enrolled in the program within the year so that construction of facilities and trial production could begin by next year.
Ultimately, the goal is for participants to start commercial production before the end of President Marcos’ term in 2028.