Based on internal projections, Department of Trade and Industry (DTI) undersecretary Rafaelita Aldaba said that by 2030, there would be 6.6 million EVs on local roads, half of which are targeted to be manufactured locally.
DTI undersecretary Rafaelita Aldaba said the pandemic has also forced traditional enterprises and startups to create new digital business models to diversify revenue streams.
Policies requiring government offices to buy electric vehicles are being eyed to jumpstart the local e-vehicle (EV) industry, according to DTI undersecretary Rafaelita Aldaba.
The government and the private sector are moving to further cement the role of the country as a hotspot for innovation in the fintech space via the inaugural Philippine Fintech Festival (PFF) to be held on May 20 to 21.
