THE Department of Trade and Industry (DTI), together with partners from the private sector, recently encouraged Chinese electric vehicle (EV) companies to invest in the Philippines in the light of the recent passage of the Electric Vehicle Industry Development Act (Evida), which paves the way for further government support for the development of this strategic investment priority sector.
'The Philippine market is growing and will grow even bigger as the adaptation of EVs is expected to accelerate with the passage of Republic Act 11697, otherwise known as the 'Evida,' in May 2022, which provides for a national policy framework to develop the electric vehicle industry in the Philippines,' DTI Foreign Trade Service Corps Assistant Secretary Glenn Peñaranda said in his opening address to the attendees of the 2022 International Summit on Lithium Battery Technology and Application for Light Electric Vehicles.
This photo shows an electric bike store in Tondo, Manila. The Department of Trade Industry has partnered with Chinese-owned electric bike firms following the passage of the Electric Vehicle Industry Development Act. PHOTO BY JOHN RYAN BALDEMOR
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