DoE: EV registrations could rise 30% this year
REGISTRATIONS of electric vehicles (EVs) could rise 30% this year, the Department of Energy (DoE) said, citing projections from preliminary data.
Patrick T. Aquino, director of the DoE’s Energy Utilization Management Bureau, said at a briefing in Taguig City on Wednesday that according to Land Transportation Office data EV registrations totaled 9,666 in 2022.
“We’re looking at the possibility of having EVs annually growing 30% based on rough estimates from preliminary figures,” Mr. Aquino said.
According to Mr. Aquino, 2022 registrations consisted of 8,105 motorcycles and tricycles, 1,168 sport utility vehicles and other utility vehicles, 347 cars, 44 buses, and two trailer trucks.
He said the government has an EV registration target of around 100,000 by the end of the Marcos administration.
“We hope the number will be 100,000 more or less by 2028,” Mr. Aquino said, with most of the total consisting of electric motorcycles.
The Electric Vehicle Association of the Philippines (EVAP) reported that 2,536 EV units were sold during the first quarter, exceeding the 426 sold in the entirety of 2022.
EVAP President Edmund A. Araga estimated the current EV count at over 16,000 units.
“Right now, the A and B (consumer) markets are more inclined (to adopt the technology) because they really understand the benefits of EVs. And during the pandemic, they were the ones who had the purchasing power,” Mr. Araga said.
Mr. Araga said the needs of the C, D, and E segments are being addressed by the entry of more affordable EV models and more payment options.
“That’s why there is a model that is lower (priced). It is a small car for daily use priced at between P700,000 and P800,000. The dealers are now open and have come up with financing schemes. (Previously), e-tricycle and e-jeep buyers had to pay cash,” he added.
EVAP expects EV numbers to hit 6.61 million units by 2030, with two-wheeled vehicles accounting for 5.50 million units. — Revin Mikhael D. Ochave
