New Electric Vehicle Incentive Strategy to Promote EV Manufacturing

The Government of the Philippines has promulgated Executive Order No. 121, establishing the Electric Vehicle Incentive Strategy (EVIS) Program. The regulatory initiative seeks to attract foreign and domestic capital, promote the localization of electric vehicle (EV) manufacturing, and position the Philippines as a regional automotive manufacturing hub. The EVIS Program provides fiscal and administrative support for hybrid and battery electric vehicles, passenger and commercial vehicles, and their critical parts and components.

The Board of Investments (BOI) serves as the lead implementing and coordinating agency, responsible for issuing operational guidelines and submitting annual reports to the Office of the President. The program is administered in coordination with the Inter-Agency Committee on Electric Vehicle Industry Development (IAC-EV Committee), chaired by the BOI and composed of undersecretary-level representatives from the Departments of Finance (DOF), Energy (DOE), Transportation (DOTr), and Budget and Management (DBM). The BOI also serves as the Secretariat of the IAC-EV Committee, providing technical and administrative support. Upon the committee’s recommendation, the BOI may issue a Certificate of Registration to qualified participants, subject to the posting of a performance bond.