It’s alarming how quickly fuel prices have skyrocketed as of late, particularly after the conflict between Russia and Ukraine began. This week alone, we saw a huge bump in gasoline and diesel prices. The worst part? This could be far from the end.
The Department of Trade and Industry (DTI) is now formulating plans to mitigate the effects of this global crisis on our market. In a recent Kapihan sa Manila Bay virtual forum, Secretary Ramon Lopez shared that one of the steps the agency is taking in this regard is to push the use of electric vehicles in the Philippines and expand charging stations.
From 30% to 0% tariff rate
“This is part of the DTI’s proposal, to promote itong electric vehicles. The way to promote it is to encourage usage, [but] paano ma-encourage ang usage kung mahal ito?” said Lopez. “Ang isang pino-propose namin ngayon ay i-adjust na yung tariff rate from 30% to 0%.”
This removal of import duties will allow manufacturers to sell electric vehicles in our market at much lower prices, making them more accessible to the average Filipino family. If motorists are able to make the switch to electric, they can cut their use of gasoline and diesel products completely, and, ultimately, reduce their expenses.
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“Isa ito sa mga nakikita naming pwedeng immediately na gawin. Of course, the impact and the benefit will not [be felt] tomorrow, but pag ginawang zero kasi [ang tariffs], mag-uumpisa mag-import ang mga EV dealers,” added Lopez. “So towards the second half of the year, mas makikita nating mas dumami pa ang mga EVs.”
Charging stations also needed
Lopez said that the influx of EVs is needed so that putting up more charging stations will make more sense. He also mentioned that there are now project proposals to the DTI that will help promote the use of EVs.
“Mag-import muna at mag-put up ng charging stations para sabay i-go-grow itong industriyang ito,” Lopez furthered. “The DTI, together with the [Committe on Tariff and Related Matters] and the NEDA (National Economic Development Authority) there as co-chair, isa ito sa mga i-pu-push namin.”
The DTI provided no timeline as to when we can expect to see developments on the matter. But what do you guys think? If EVs do become more affordable here, will you make the switch to electric?
