The Philippines will be on its way to having an electric car industry soon.
The House of Representatives recently passed House Bill 10213 or the Electric Vehicle Industry Development Act. With a landslide vote of 195-0 with no abstentions, House Bill 10213 is now up for discussion in the bicameral conference committee.
The proposed law will make the country a key developer for EVs and other electric mobility-related industries. It aims to provide a regulatory framework for the manufacturing of EVs, generation of employment that will produce/manufacture EVs and their components, and as well as regulate the use and placement of charging stations in the country. The law also proposes to have dedicated parking for EVs.
The bill also seeks to provide EV manufacturers, companies operating charging stations, and R&D centers with tax incentives in order to attract investment. EVs, charging stations, and the materials meant for the assembly of such vehicles would likewise also be exempted from value-added tax and customs duties for 5 years should the law be passed.
There are still no clear provisions on how the tax incentives will be put up, but a commission will be put up in order to work on the said incentives once the law is passed.
Together with Senate Bill 1382, both bills will now be up for discussion at a bicameral conference. Also known as the Electric Vehicles and Charging Stations Act, the Senate version aims to promote the industrialization of manufacturing EVs, as well as putting up a national infrastructure for recharging EVs.
The bill also aims to provide dedicated parking slots (with charging stations) for EVs in both private and public establishments. What’s interesting, however, is that the Senate version of the bill also seeks to install charging stations in gasoline stations. These charging stations can then be used by the public for a fee.
With both the Senate and House of Representatives already having their own version of the bills, it is now up to the bicameral conference committee to discuss and reconcile conflicting provisions of the two.
The only question now is, will the bills gain enough traction to make EV prices here more attractive in the not so distant future?