Illustrative image (Source: VNA) Hanoi (VNA) – The President office of the Philippines recently announced that the country will reduce tariff rates on imported electric vehicles (EV), parts and components, to boost the EV market in the country.
The announcement on January 19 said President Ferdinand Romualdez Marcos has inked an executive order based on the government’s recommendation about this issue.
In November, 2022, the National Economic and Development Authority (NEDA) Board endorsed the temporary reduction on completely built-up units of certain EVs to zero for a five-year period, which, however, does not apply to hybrid-type EVs.
The government’s move aims to support the transition to emerging technologies and encourage consumers to consider electric vehicles as a cleaner and greener transportation option.
The transportation sector is one of the largest sources of air pollution and energy-related greenhouse gas emissions in the country, with road transportation accounting for 80 percent of those emissions./.
