The DTI earlier said that EVIS includes fiscal support and replaces the previous Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program, focusing on e-PUVs and green metals.
Transport groups inclined to shifting to EVs
Meanwhile, Roque said the DTI team just had a public utility vehicle (PUV) drivers in Bacolod City. “They are really looking forward to shifting from combustion vehicles to electric vehicles, especially with this loan that the Small Business Corporation is rolling out. They have already started to talk to tricycles, jeepneys, and bus suppliers. It is very important for us now to provide financial assistance to enable them to shift, as the savings can go from 33 percent to 80 percent,” she said.
“Especially since there is a fuel crisis now, it is very timely to shift,” Roque stressed.
The DTI-SBCorp is offering a P2-billion E-Transport Loan program to help transport operators and drivers transition to electric vehicles (EVs). It provides up to P1.5 million per unit (maximum of P3 million per borrower) with a 5-year repayment term, 0 percent interest for the first year, and a one-year grace period.
