President Ferdinand Marcos Jr. on Monday emphasized the importance of shifting to electric vehicles, or EVs, to reduce the country's dependence on imported fuels and combat climate change.

In his speech at the launch of Dongfeng Motors in the Philippines, Marcos said the promotion of the use of EVs is among the measures of the government to uphold the country's commitment under the Paris Agreement, which is a global treaty on climate change.

Marcos said that the government aims to increase the share of EVs in the total projected vehicle fleet nationwide to 10 percent or hopefully 50 percent by 2040.

Committed

He added that the government is committed to supporting the shift to EVs to reduce the country's dependence on imported fuels and greenhouse gas emissions.

"Owning an electric vehicle here in the Philippines also confers a wide range of incentives and advantages," Marcos said.

These incentives include priority in the registration and renewal of registration of vehicles at the Land Transportation Office, exemption from the number coding schemes and lower taxes.

Marcos also said that the government is gradually shifting to electric vehicles for public transportation.

PUV modernization

He cited the Public Utility Vehicle, or PUV, Modernization Program, which provides beneficiaries with special loan facilities and equity subsidies for acquiring EVs.

"To date, nearly 400 electric public utility vehicles are plying 29 routes nationwide, bringing safe, modern, comfortable, and green transportation to the masses," Marcos said.

The Chief Executive also encouraged the public to support the government's programs and policies to promote the use of EVs.

Private sector participation

Marcos also encouraged the private sector to participate in the government's efforts to make the Philippines a part of the global chain of electric vehicles by investing in manufacturing facilities in the country.

"Strive with us as we generate more employment opportunities, enrich our people's quality of life, and foster more environmentally friendly communities," he said.

"In return, we offer fiscal incentives such as the Income Tax Holiday and duty exemption of capital equipment, raw materials, and spare parts used in electric vehicles," added the President.