DTI Promotes PH to Chinese Battery and Electric Manufacturers

The Department of Trade and Industry has mentioned that it had encouraged Chinese manufacturers of electric vehicles to consider the Philippines as an investment destination.

This comes after the DTI recently participated in the 2022 International Summit on Lithium Battery Technology and Application for Light Electric Vehicles (BLEV 2022) held in Guangzhou, China. In this event, the DTI pitched investment opportunities specifically for battery and e-vehicle manufacturers.

DTi Foreign Trade Service Corps (FTSC) Assistant Secretary Glenn Peñarada said “(EVIDA) provides for a national policy framework to develop the electric vehicle industry in the Philippines, particularly for the shift to EVs and for further attracting investments and creating high-value jobs,”

Last May, the Philippines implemented a law that supports the local e-vehicle industry growth with the EVIDA law or the Electric Vehicle Industry Development Act.

Under the EVIDA, stakeholders will come up with a Comprehensive Roadmap for the Electric Vehicle Industry (CREVI) which will be used as the plan for the national e-vehicle sector.

The CREVI will be a blueprint to expedite the commercialization, utilization, and development of e-vehicles and the Electric Vehicle Incentive Strategy (EVIS).

Other than EVIDA, other thrusts of the country’s administration to develop the local e-vehicle industry include the Public Utility Vehicle Modernization Program and the Strategic Investment Priority Plan (SIPP) which gives fiscal incentives to investments in green ecosystems.

DTI Secretary Alfredo Pascual has mentioned that one of his priorities would be for the Philippines to have integrated facilities that would be used for the processing of minerals, which would include green metals that are a component for battery making.

Secretary Pascual also says that the country can be a partner processor for finished and semi-finished products.

Source: Philippine News Agency