EV zero-duty policy ready before expiration

According to the Department of Trade and Industry (DTI), the current government aims to approve a zero-tariff policy for importing electric vehicles (EVs) before leaving office.

Commerce Secretary Ramon M. Lopez said at the launch of the free EV charging station at SM Supermoles at the SM Ara premiere on Thursday that DTI’s proposal would reduce tariffs.ff President Rodrigo R. approves 30% to 0% import of EVs. Duterte, the proposal is now being heard by Tariff Commission (TC).

“We are now going through a general hearing process at TC so that we can formalize the reduction from 30% to 0%. And then it will pass through the Committee on Tariffs and Trade, “said Mr Lopez.

He is hoping for approval before the president’s term expires on June 30.

DTI, in March, announced Zero-Tarryff The policy for EVs is to counter it by increasing fuel prices and promoting widespread adoption of vehicles.

“The EV industry will be happy. Distributors (EVs) will reduce the price and encourage the use of these. Hopefully, there will be more EVs on the streets of the Philippines, “said Mr Lopez.

Mr Lopez said the larger adoption would result in more charging stations, which would make EV’s local production more viable.

He estimated that the cost of a charging station would be between P1 and P2 million.

Mr Lopez said efforts to build an EV market would gain traction due to the recent passage of Republic Act No. 11697, or the Electric Vehicle Industry Development Act.

The new law requires companies, public transport operators and government units to maintain a fleet of vehicles comprising at least 5% EVs.

Mr Lopez said he was also considering allocating part of the DTI fiScale support for local EV manufacturing for the P27-billion Comprehensive Automotive Resurgence Strategy (CARS) program.

“Remember, there are 2 participants in the CARS program. There should be three participants. The remaining budget for this, hopefully, we can channel it into development for making EVs too, ”said Mr. Lopez.

“It’s about 9 9 billion in support per company. The third is that we can assign a third participant to the CARS program. It’s still a drawFeet I would like to present the executive order to the President. Hopefully the president (before he resigns) can pass it, “he added.

The two manufacturers participating in the CARS program are Toyota Motor Philippines Corp. (TMP) and Mitsubishi Motors Philippines Corp. (MMPC)

The program provides fiScale support for at least 200,000 units of domestic production in six years.

Under the program, TMP Vios builds compact cars while MMPC builds competitive Mirage. MMPC has a deadline of 2023 to meet the Mirage quota and TMP has until 2024 to produce the required number of Vios vehicles. – Reverend Mikhail D. Ochav