EVs capture nearly quarter of Phl vehicle market

Electric vehicles (EVs) are rapidly carving out a bigger share of the local automotive market, accounting for nearly one in every four vehicles sold in the first eight months of the year as consumers gain access to a wider range of alternatives to conventional fuel-powered cars.

The Department of Energy (DoE) reported on Wednesday that at least 66,685 EVs were sold from January to August, equivalent to about 24.7 percent of the estimated 270,124 vehicles sold nationwide during the period.

Sales included 20,716 hybrid electric vehicles, 29,649 plug-in hybrids, and 16,320 battery electric vehicles.

“What we are seeing is a broader range of electric mobility choices becoming available to Filipino consumers. As adoption increases, our responsibility is to make sure that the infrastructure, policies, and safety capabilities needed to support these vehicles keep pace,” Energy Secretary Sharon S. Garin said.

The growing share of EVs is also accelerating the buildout of the industry’s supporting infrastructure.

As of end-August, the number of DoE-recognized EV models reached 949, up by 67 from the previous month, while registered charging stations nationwide climbed to 1,876.

The government is targeting EVs to account for 50 percent of the country’s vehicle fleet by 2040 under the Clean Energy Scenario of the Comprehensive Roadmap for the Electric Vehicle Industry.

It is also seeking to build a domestic EV manufacturing and supply chain through the Electric Vehicle Incentive Strategy under Executive Order No. 121, which provides up to P60 billion in performance-based fiscal support for qualified investments in EVs and related industries.