NEDA Board approves slashing tariffs on EVs

NEDA Board approves slashing tariffs on EVs

MANILA: In an effort to support demand in the face of rising fuel prices, the Philippines plans to reduce tariffs on electric vehicles.

KEY TAKEAWAYS

  • What kind of electric vehicles could be granted zero tariffs?

    Electric passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters, and bicycles, as well as their parts and components, will have zero tariffs for five years.
  • Amid the NEDA approval for zero-tariffs on EVs, how much is the import taxes on such vehicles at the moment?

    Currently, import taxes range from 5% to 7%.
  • An executive order (EO) reducing the most favored nation tariffs on electric vehicles to 0% was approved by the National Economic and Development Authority (NEDA) Board on Thursday, November 24. This includes passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters, and bicycles, as well as their parts and components. For five years, there will be no tariffs.

    The present hybrid car tariff rates will not change. Currently, import taxes range from 5% to 7%.

    Last October, the Electric Vehicle Association of the Philippines (EVAP), in collaboration with the Manila Electric Company (Meralco), Department of Energy (DOE), and Nissan Philippines Inc., staged the 10th Philippine Electric Vehicle Summit (PEVS).

    This year’s PEVS highlighted the electric vehicle industry’s solidarity in achieving the policy goals of the Electric Vehicle Industry Development Act (EVIDA), also known as Republic Act No. 11697, which went into effect on May 11, 2022. The Act’s implementing rules and regulations, which were published on September 5, 2022, went into effect on September 20, 2022.

    The law mandates 5% electric vehicle share in corporate and government fleets, designated parking spaces for electric vehicles, installation of charging stations in parking lots and gas stations, creation of green routes in cities and municipalities, as well as fiscal and non-fiscal incentives for electric vehicle production, charging station importation, and electric vehicle usage. The goal of the law is to encourage the fast adoption of electric vehicles and charging stations in the country.

    Hyundai at PEVS

    With the theme “United in Driving Electromobility in Support of the EVIDA or Republic Act No. 11697,” the biggest annual electric vehicle conference and expo in the Philippines will hold its first physical staging after two years of COVID-19 pandemic. In order to promote the adoption of electric vehicles and the development of the electric vehicle charging station in the country, the event gathers stakeholders from across the electric vehicle value chain, including policymakers, regulators, academe, consultants, transport companies, power utilities, and end-users.

    Topics that were tackled at the 10th PEVS, include the following: EVIDA Implementing Rules and Regulations and Updates on the Comprehensive Roadmap for the Electric Vehicle Industry (CREVI), Encouraging More Players in the EV Charging Space, Global Trends and Current Issues Faced by the EV Industry, Asian Federation of Electric Vehicle Association (AFEVA) Policy Dialogue, Spurring EV Manufacturing Through the Strategic Investment Promotion Plan (SIPP) and the EV Incentive Strategy (EVIS), Public and Private E-mobility Programs, and EV Technology Presentations.

    Also recently, Ayala Land reinforced its commitment to sustainable and responsible property development with the activation of 20 electric vehicle (EV) fast-charging stations across seven cities in Luzon.

    These 22-KW AC and 60-KW DC fast chargers will soon allow EV users to fully charge their vehicles as fast as one to two hours, depending on vehicle used. This is in keeping with the company’s thrust and long-term commitment toward carbon neutrality and alignment with the global and local directive to shift to electric vehicles.

    The Ayala Land Vehicle Charging Hubs will be located in the following locations operated by the corporation: Ayala Land Estates (One Ayala, Circuit Makati, Nuvali Laguna, Vermosa Cavite, and Vertis North), Ayala Land Offices (Tower 2 Ayala Triangle, Solaris One, and Baguio Technohub), Ayala Malls (Greenbelt Makati, Glorietta Makati, Alabang Town Center, and Trinoma), Ayala Hotels (Seda, BGC), Laguna Technohub.

    Ayala Land EV Charging Hub Kia EV6

    Photos from Kia Philippines, and Hazel Nicole Carreon and Dylan Afuang

    Also read: PIMS 2022 goes underway with electrified vehicles

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