Economy


E-vehicle industry sets sales goals, financing schemes




Posted on December 28, 2015


THE ELECTRIC vehicle industry has set a target of 5,000 electric tricycles and 1,000 electric jeepneys in the next three years through the support of “green” credit lines from government banks.

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In a statement yesterday, the Electric Vehicle Association of the Philippines (EVAP) said it held a meeting with the Department of Trade and Industry (DTI) “to map out the progress and formulate development plans” for in the industry in 2016 and beyond.

The association said Corazon H. Dichosa, supervising director of DTI’s Board of Investment, formed a sub-cluster on electric vehicles under the automotive industry technical working group together with EVAP officials and representatives of the Department of Science and Technology and the Development Bank of the Philippines and Land Bank of the Philippines.

It said that during the meeting, EVAP President Rommel Juan presented the progress of the local electric vehicle industry, after which the roll-out numbers were agreed. It added that financing of the electric vehicle ecosystem was discussed with the two banks.

It said Mr. Juan also discussed other issues such as non-fiscal incentives, electric vehicle registration guidelines by the Land Transportation Office, the inspection system for these vehicles, as well as their local and national franchises. He also touched on the development of standards for electric vehicles, their parts and components, and testing.

“We are confident that with the government’s support, we can push for our electric vehicle advocacy even more and go full blast in our campaign to modernize mass public transport with eco-friendly EJeepneys and ETrikes,” Mr. Juan said.

He said the meeting was timely after the issuance on Dec. 19 by the Board of Investments of the implementing rules and regulations of Executive Order (EO) 182 or the Comprehensive Automotive Resurgence Strategy (CARS) Program.

“We need to know how we can fully avail of the incentives provided for by EO 182,” he said. -- Victor V. Saulon