The EVIS, now slated for deliberation and approval by the Fiscal Incentives Review Board (FIRB), offers a combination of fiscal and non-fiscal incentives to stimulate domestic production of electric vehicles, batteries, motors, and charging infrastructure.
Backed by the Electric Vehicle Industry Development Act (EVIDA), the strategy targets the production of up to nine million EV units and the deployment of 400,000 charging stations by 2040—building a nationwide EV ecosystem while cutting reliance on imports.
Developed by the Department of Trade and Industry (DTI), the program mirrors the Comprehensive Automotive Resurgence Strategy (CARS) and aims to encourage investments in EV assembly, charging networks, and related technologies.
“This is our game-changer,” Roque said. “EVIS will not only catalyze inclusive growth but also future-proof our economy through greener mobility and robust industrialization.”
DTI estimates the strategy could yield ₱11.4 trillion in economic output and generate ₱400 billion in tax revenues—four times higher than a fully import-based EV market. It may also help save $30 billion in foreign exchange by reducing dependence on imported vehicles and components.
Participating companies must meet Philippine and international standards, provide long-term after-sales support, and submit investment plans vetted by the Board of Investments.
The FIRB is expected to deliberate on the EVIS package in July 2025. —Ed: Corrie S. Narisma
