The Department of Trade and Industry (DTI) hopes to have the executive order eliminating tariffs on electric vehicles (EVs) issued before Congress convenes in July.
DTI Secretary Ramon Lopez noted the importance of the tariff elimination for five years in reducing the price of EVs and in increasing its adoption locally.
Lopez said in a television interview over the weekend removing the 30-percent tariff on EVs would bring down the cost of a P3-million imported car by nearly P1 million.
Lopez said the DTI wants to attract the entry of more electrified passenger cars, including Tesla.
He said results of the public hearing of the Tariff Commission have yet to be released to the Cabinet committee on tariff related matters the DTI co-chairs with the National Economic and Development Authority.
“We lacked material time. The final process is for the NEDA board to recommend (the EO) in the last few days of the Duterte administration (or the ) next administration,” Lopez said.
Lopez noted the growth of EVs will spawn investments in EV charging stations and batteries and would encourage local manufacturing of electrified vehicles, including hybrids.
