The Electric Vehicle Industry Association (EVAP) targets to hit 2.45 million electric vehicles (EVs) of all types and 65,000 EV charging stations by 2028.
“We still have a long way to go to achieve the industry goal,” said Edmund Arraga, EVAP president, in his speech at the 12th Philippine Electric Vehicle Summit at the SMX Convention Center in Pasay City yesterday.
The EV industry covers four-wheel vehicles, two-wheel vehicles, e-boats, e-cars, e-tricycles, e-buses, and soon electric-powered airplanes.
The industry so far sold 10,000 units of EVs in 2023.
Arraga, however, is confident as more and more players come in, there will be more EVs available in the market.
Of the 14 million vehicles registered with the Land Transportation Office to date, only 7,500 are EVs. Of that 1,352 are cars and 612 are motorcycles and tricycles.
EVAP admits the number of EVs on the road cannot be tracked as not all are registered.
“Now that we are backed by existing laws and regulations, we are gearing up to making plans and programs,” said Arraga, referring to the Electric Vehicle Industry Development Act and the soon Electric Vehicle Industry Strategy which set the policy framework on the industry
Energy Undersecretary Felix William Fuentebella said while the cost of acquiring an EV is 30 to 50 percent more expensive compared to internal combustion engine vehicles, the user can save as much as 65 percent in the long term in maintaining the vehicle, especially on the cost of fuel.
