ANTONIO “TOTI” ZARA III: The Philippine auto industry EV sector is at a very nascent stage, less than 1 percent. In comparison, in other developed markets like Europe, many European countries are already above 40 percent, with Norway at 90 percent, Sweden at 60 percent, and even a big market like Germany at 30 percent. If you come closer to the Philippines, our neighbor China is now over 50 percent. Even our next-door neighbor with a similar economy, Thailand, is already more than 10 percent.
Sales of electric vehicles in the Philippines have been on a steady rise in the past few years. Currently, the local automotive industry sells around 200 EVs monthly, and BYD primarily drives this. 68 percent of EVs sold today are from BYD. One of two EVs sold today is an Atto 3, the top-selling EV in the Philippines today.
The BYD Dolphin is the second best-selling EV model in the market, while the BYD Tang is the third. So, the industry is primarily driven by BYD, with our brand holding the Top three positions in the market.
This exponential growth we are experiencing today should translate to 40 percent EV penetration by 2030. This is similar to the EV adoption trend we see in the rest of the world. BYD is at the forefront of this trend, and we expect to continue leading the industry as the country’s and the world’s #1 New Energy Vehicle brand.
What has BYD Cars Philippines been doing to convince customers that EVs are “good” cars?
Electric vehicles represent the latest in automotive technology and innovation. They are not only “good” for car buyers but also ideal, as the cost savings involved in owning an EV are 70 percent lower than those of a typical Internal Combustion Engine car fed by fuel. And for Filipinos, cost is a primary consideration when buying and owning a vehicle.
The cost of vehicle maintenance is likewise significantly cheaper than that of an ICE car, at around 65 to 70 percent. No more oil changes, fewer moving parts than ICEs, and minimal maintenance all contribute to real-world savings and benefits for EV car owners.
Not only are EV owners saving money compared to an ICE car, but they are also enjoying the benefits of driving an EV—no harmful emissions, smoother operation, instantaneous power, and refinement.
The convenience of charging your car at home, where 90 percent of EV owners do their cars’ charging, saves you time and money as well. There is no need to go to the gas station anymore, where fuel prices constantly fluctuate and affect your monthly budget.
We continuously communicate these through our marketing efforts, collaborations, and partnerships with other companies. This coming July we will kick of our BYD Tech Tour where we will visit various malls and commercial establishments with onsite interactive displays explaining the various BYD performance and safety technologies. We also conduct activities with the media to bust long-held myths about EVs as we strive to amplify our message and educate the public on why they should go electric and go with BYD.