DTI Pushes EV Incentive Plan to Generate 680K Jobs

The Department of Trade and Industry expects the Electric Vehicle Incentive Strategy to create nearly 680,000 jobs nationwide.

The recently approved strategy now awaits endorsement by the Fiscal Incentives Review Board for final approval of its proposed incentives.

Trade Secretary Cristina A. Roque said the strategy is projected to attract PHP120 billion in capital investments, helping to drive job creation across the country.

These investments are expected to generate about PHP11.4 trillion in economic output.

The EVIS could also increase government tax revenue by PHP400 billion compared to a fully import-based electric vehicle market, enabling expanded public service funding.

It may save the country up to USD30 billion in foreign exchange by reducing reliance on imported vehicles and parts.

“President Ferdinand Marcos Jr. has made it clear: economic transformation must be felt by every Filipino,” Roque said.

“The EVIS is our concrete response—laying the foundation for a strong, inclusive EV industry that empowers our workers, strengthens local manufacturing, and delivers lasting opportunities for communities nationwide.”

Developed by the DTI’s Board of Investments, the EVIS is anchored on the Electric Vehicle Industry Development Act and offers targeted fiscal and non-fiscal incentives.

These incentives aim to boost local production of EVs, batteries, motors, components, charging stations, and testing facilities, supporting both capital investment and sustained output.

Qualified companies must meet Philippine and international standards, provide long-term after-sales support, and submit investment plans vetted by the Board of Investments.

The strategy outlines production goals from 2028 to 2040, supporting the deployment of up to 9 million electric vehicles and nearly 400,000 charging stations nationwide.

Targeted EV types include two- and three-wheelers, passenger cars, buses, and trucks.

The DTI is coordinating with the Fiscal Incentives Review Board to finalize the strategy, which is slated for review in July 2025.