Marcos Offers Incentives to Attract Investors in E-Mobility Industry

President Ferdinand “Bongbong” Marcos Jr. announced that the Philippine government will provide incentives to attract investors in the country’s growing e-mobility industry. The statement came after a meeting in Malacañang with officials from the Department of Science and Technology (DOST) and other relevant agencies, focusing on the need to enhance the e-mobility sector through science, technology, and innovation.

“We need investors to come in,” Marcos said, emphasizing the importance of scaling up production. While the technology behind e-trikes and other electric vehicles is relatively simple, the challenge lies in scaling up production to make a substantial market impact.

DOST Secretary Renato Solidum Jr. mentioned that potential investors have been waiting for a clear policy direction from the government, which is crucial for the growth of the industry. The Department of Trade and Industry (DTI) is working on a strategic roadmap under the Electric Vehicle Industry Development Act (EVIDA) to guide policies and incentives for the sector.