The Department of Finance (DOF) and Department of Trade and Industry (DTI) have backed the government’s new P60-billion incentive program for electric vehicle manufacturers, saying it could attract investments and develop a domestic EV supply chain.
Pres. Ferdinand Marcos Jr. signed Executive Order No. 121 on July 29, establishing the Electric Vehicle Incentive Strategy (EVIS) Program. The program provides time-bound and performance-based fiscal support for EV production and the manufacture of parts and components in the Philippines.
The EVIS Program, approved by the Fiscal Incentives Review Board (FIRB) in May 2026, implements the incentive strategy required under the Electric Vehicle Industry Development Act.
“The EV Incentive Strategy sends a clear signal that the Philippines is ready to compete for the next generation of automotive investments. Through a targeted and performance-based incentive system, we are encouraging manufacturers to build, innovate, and grow in the Philippines while creating quality jobs for Filipinos,” DOF secretary and FIRB chair Frederick Go said.
Under the program, the government may enroll up to four EV manufacturers. Each participating company may register up to two EV models, with fiscal support capped at P15 billion per model.
Manufacturers may qualify for Fixed Investment Support or Production Volume Incentives, subject to investment and performance requirements. Registered participants must introduce locally manufactured EVs to the domestic or export market within three years of registration.
The program covers manufacturers of hybrid electric vehicles and battery electric vehicles, as well as accredited manufacturers of EV parts and components.
The DOF said EVIS includes monitoring and compliance mechanisms, performance bonds and safeguards against the double availment of incentives under the CREATE MORE Act.
DTI secretary Cristina Roque said the program is intended to expand domestic manufacturing, facilitate technology transfer and deepen the participation of Philippine companies in regional and global automotive supply chains.
The DTI, through the Board of Investments, will work with the DOF, FIRB and other agencies on the program’s implementation and the issuance of implementing guidelines.
“Through EVIS, we are laying the groundwork for a globally competitive EV manufacturing ecosystem — one that will attract high-quality investments, strengthen local supply chains, support our energy security goals, and create more opportunities for Filipino workers,” Go said. “This is a strategic step toward building the country’s industrial future.”
