Monday, May 27, 2024

EV manufacturer to set up $80-M plant in Clark Freeport Zone

Key government officials witnessed on Tuesday, March 28, the signing of a lease agreement between American company Envirotech Vehicles (EVT) and Clark-based developer Berthaphil Inc. for the establishment of an electric vehicle manufacturing plant in Clark Freeport Zone.

Photo from DOF shows top officials of the government witnessing the signing of the lease agreement between EVT and Berthaphil Inc.

EVT is a transportation provider and manufacturer of all-electric and zero-emission vehicles, specifically electric and hybrid-electric buses and trucks.

Over the next five years, EVT is investing $80 million into the country, and is expecting to generate 800 direct jobs in three areas: manufacturing, green energy, and technology, toward the production of 4,000 electric vehicles per year.

Apart from these, EVT foresees the creation of 400 more indirect jobs.

Present at the signing were Senate president Juan Miguel Zubiri, Finance secretary Benjamin Diokno, Trade and Industry secretary Alfredo Pascual, Energy secretary Raphael Lotilla, National Economic and Development Authority secretary Arsenio Balisacan, and Clark Development Corporation president Agnes Devanadera.

Signing the lease agreement were EVT president and CEO Phillip Oldridge and Berthaphil corporate secretary Arlene Aniciete.

“[The] signing of the lease agreement of Envirotech Vehicles or EVT marks an important first step in our efforts to develop the electric vehicle industry in the Philippines and advance the country’s goal of becoming a regional hub for manufacturing,” Diokno said in his remarks.

He further noted that EVT can benefit greatly from the Philippines’ pool of young, highly-skilled, tech-savvy, and globally competitive workers.

Diokno highlighted key investment-friendly reforms that have made the Philippine business environment more attractive to electric vehicle industry players.

In 2022, the government enacted the Electric Vehicle Industry Development Act (EVIDA), which aims to promote an equitable, competitive, and non-discriminatory environment for private sector participation in the electric vehicle industry.

EVIDA also provides fiscal and non-fiscal incentives that will significantly reduce the cost of doing business and quicken the development, commercialization, and utilization of electric vehicles in the country.

Furthermore, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act provides an enhanced menu of performance-based tax incentives.

The electric vehicle industry is qualified to apply for incentives under Tier 2 of the Strategic Investment Priority Plan (SIPP), which covers electric vehicle assembly and manufacturing, as well as the establishment of electric vehicle infrastructure.

“We are determined to not only catch up with the developments of the electric vehicle industry, but to take larger, bolder strides to stay a step ahead of the game at the soonest possible time. We look forward to welcoming EVT here in the Philippines to become a part of this grand undertaking,” Diokno added.

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