Nearly half of Filipinos — or 46 percent of them — are interested in owning electric vehicles but are deterred by the high cost, an industry group said on Wednesday.
The Electric Vehicle Association of the Philippines (EVAP) said the study, conducted by Frost and Sullivan, showed that Filipinos have the highest rate of acceptability for e-vehicles in Southeast Asia.
"The only hindrance is the upfront cost of acquiring one," said EVAP president Edmund Araga in an interview with ANC's Future Perfect.
Electric cars usually cost more than P1 million, Araga said.
The high rate of acceptability for electric cars in the domestic automotive market, meanwhile, has prompted more manufacturers to bring their vehicles here, he added.
During the Philippine Electric Vehicle Summit held last week in Pasay City, major automakers such as Nissan and Mitsubishi, as well as Chinese players such as BYD and Dongfeng, exhibited their latest e-vehicles.
Mall operator SM is also looking to install e-vehicle charging stations in its parking areas, Araga said.