Saturday, May 25, 2024

E-vehicle industry boom seen as bill on EV lapses into law

The Philippines can now look forward to transitioning to sustainable transportation after RA 11697 otherwise known as the Electric Vehicle Industry Development Act lapsed into law, Sen. Sherwin Gatchalian said on Thursday, April 28.

Sen Win Gatchalian Electric Vehicle Philippines

The enrolled copy of the bill was transmitted to Malacañang last March 17 for Pres. Rodrigo Duterte’s signing. It lapsed into law after Duterte did not sign it within 30 days from receipt in his office.

“The local production of EVs, which some industry players already initiated ahead of this new law, will not only increase the uptake of EVs but likewise pave the way for the generation of new jobs and reduce the transportation sector’s reliance on imported fuel,” Gatchalian said.

Pursuant to RA 11697 is the establishment of a Comprehensive Roadmap for the Electric Vehicle Industry (CREVI) designed to accelerate not only the development and commercialization of EVs in the country, but its utilization as well.

The development initiatives include building and installing charging stations for EVs located in dedicated parking spots.

The measure will also mandate industrial, commercial, public transport, and government sectors to ensure at least 5% of their transport vehicles will be comprised of EVs. 

As chair of the Senate Energy Committee, Gatchalian also cited that proper implementation of RA11697 can potentially save as much as 146.56 million barrels per year, translating to around P510-million in savings.

 The law will also be providing both fiscal and non-fiscal incentives for EV manufacturing and assembly.

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