Expanded, revised tax incentive program now includes e-bikes, e-trikes

Also benefitting from expansion are hybrid, PHEV buses, jeepneys

Expanded, revised tax incentive program now includes e-bikes, e-trikes

MANILA: The expanded and revised Executive Order No. 12 — otherwise known as the “Customs Modernization and Tariff Act” — now encompasses two- and three-wheeled electric vehicles (EV).

KEY TAKEAWAYS

  • What executive policy was revised and expanded to include e-bikes and e-trikes?

    Per DOE, the revised and expanded policy was Executive Order No. 12, otherwise known as the “Customs Modernization and Tariff Act.”
  • Which government agency approved the revision of the EO?

    The agency that approved the EO revision was NEDA.
  • According to the Department of Energy (DOE), the National Economic and Development Authority Board has approved the expansion of tax breaks, which originally decreased tariffs on EVs until 2028. However, the original directive did not include electric bicycles (e-bikes) and electric tricycles (e-trikes).

    The revised policy now encompasses e-motorcycles, e-bikes, e-trikes, as well as hybrid electric and plug-in hybrid electric jeepneys or buses.

    Hatasu

    Per DOE, the expanded tax incentive program looks to enhance the accessibility and affordability of electric and hybrid vehicles for all consumers. In doing so, the agency aims to encourage a shift away from fossil fuel dependency and contribute to reducing greenhouse gas emissions.

    “By broadening the scope to include a wider range of electric and hybrid vehicles, we are not only simplifying environmentally friendly choices for consumers but also fostering innovation and growth within the country’s electric vehicle industry program, subject to an annual review,” Energy Secretary Raphael Lotilla said.

    The Secretary added that the extension of tax incentives aligns with a comprehensive strategy to spur the transition to EVs in accordance with targets set under the Comprehensive Roadmap for the Electric Vehicle Industry.

    According to Lotilla, the expansion of tax incentives will stimulate demand for electric and hybrid vehicles, encourage domestic manufacturing and assembly, and generate new jobs within the green technology sector.

    Photos from Juan Paulo Papa, Hazel Nicole Carreon

    Also read:

    ELECTRIA: here are the EV classifications per DOE

    DOE issues list of recognized NEV models available in PH

    Paulo Papa

    Paulo Papa

    Fueled by his passion for cars and a good dose of caffeine, Paulo loves taking his readers for an exciting spin with his writing. A self proclaimed nerd, epigrammatic writer, and a doting father. 

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