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The Department of Energy on Friday welcomed the approval by the National Economic and Development Authority Board of the expansion of tax breaks for two and three-wheeled battery electric vehicles , hybrid electric vehicles and plug-in hybrid electric vehicles until 2028.
“By broadening the scope to include a wider range of electric and hybrid vehicles, we are not only simplifying environmentally friendly choices for consumers but also fostering innovation and growth within the country’s electric vehicle industry program, subject to an annual review,” Energy Secretary Raphael Lotilla said.
President Marcos Jr. signed EO 12 in February 2023, temporarily eliminating tariffs for EVs and their components for five years but excludes two and three-wheeled EVs, HEVs, and PHEVs.
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