Philippines Urged to Enact Incentive Grants for Electric Vehicles
The price of electric vehicles will go down by a third if the government grants fiscal incentives to the fledgling industry producing these transport products, the association of local manufacturers of electric vehicles said.
The Electric Vehicle Association of the Philippines (EVAP) pressed its plea for government incentives, saying these would result not only in a 30-percent reduction in the price of these vehicles but help reinvigorate the motor vehicle parts industry – which employs 50,000 people – now operating at just half of capacity.
Electric vehicles have caught the attention not only of certain local government executives especially in Metro Manila but also of the Asian Development Bank because of their environmentally-friendly features and the prospect they present of significantly reducing the country’s dependence on and imports of expensive petroleum products.
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