2 explore electric vehicle manufacture
Two companies are exploring the possibility of manufacturing electric vehicles in the Philippines, according to Efren Leano, executive director of the Board of Investments (BOI).
The BOI is currently crafting a special program that will give superior incentives to this type of motor vehicle assembly.
In an interview, Leano said Undersecretary Cristino Panlilio recently met with officials of a Chinese firm while a US company is looking for Filipino partners for a similar venture.
He declined to name both companies.
Leano said the Chinese company is one of that country’s biggest assemblers of electric cars, buses, bicycles and scooters.
It is also China’s biggest producer of batteries for cars and cellular phones.
Leano said the company will also invest in the manufacture of parts for electric vehicles.
The venture will not only cater to the local market but also export to countries closer to the Philippines than China.
To support the domestic market for electric vehicles, the Chinese firm will also put up charging stations.
In China, the company produces buses that carry solar panels to recharge batteries.
Leano said the firm sought clarification from government on what incentives government can offer.
Right now, incentives granted to assemblers include a preferential rate of 1 percent for imported completely knocked-down parts.
"We are thinking of a special program for electric vehicles, hybrids and special-fuel fired vehicles. The incentives should be better than those given to the manufacture of gas-fed vehicles," Leano said.
The idea, he said, is to bring down the cost of these vehicles and make the use of vehicles run with alternative energy more appealing to consumers.
According to Leano, Toyota Motor Philippines Corp. in a recent hearing said the price of its hybrid, Prius, could drop to P1.5 million from P2.2 million if incentives are granted.