Electric vehicle adoption faces challenges: industry group | ABS-CBN
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Electric vehicle adoption faces challenges: industry group
Electric vehicle adoption faces challenges: industry group
MANILA — An industry group said it is optimistic about hitting the government's target for electric vehicles even as it expressed concern over the challenges to EV adoption.
MANILA — An industry group said it is optimistic about hitting the government's target for electric vehicles even as it expressed concern over the challenges to EV adoption.
The Electric Vehicle Association of the Philippines (EVAP) on Thursday noted that the Philippines is looking to have 2.4 million electric vehicles on the road by 2028.
The Electric Vehicle Association of the Philippines (EVAP) on Thursday noted that the Philippines is looking to have 2.4 million electric vehicles on the road by 2028.
This is based on the Department of Energy's Comprehensive Roadmap for the Electric Vehicle Industry.
This is based on the Department of Energy's Comprehensive Roadmap for the Electric Vehicle Industry.
However, the number of electric vehicles on the road as of 2022 is still less than 10,000.
However, the number of electric vehicles on the road as of 2022 is still less than 10,000.
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EVAP also noted that while the government is aiming to have 66,5000 EV charging stations across the country by 2028, there are only 300 plus charging stations now.
EVAP also noted that while the government is aiming to have 66,5000 EV charging stations across the country by 2028, there are only 300 plus charging stations now.
EVAP however said it remains optimistic EV will begin to penetrate the mainstream market in a few years.
EVAP however said it remains optimistic EV will begin to penetrate the mainstream market in a few years.
At the media briefing for the Auto Parts & Vehicles Expo 2024, EVAP Assistant Executive Director Neil Lopez said there are still obstacles amid the tax incentives given to EV users.
At the media briefing for the Auto Parts & Vehicles Expo 2024, EVAP Assistant Executive Director Neil Lopez said there are still obstacles amid the tax incentives given to EV users.
“We’re also confident ma-achieve natin ang targets na yun because we already have a number of big players in the charging industry locally. I think they’re just waiting for the right time and moment to go full blast,” Lopez said.
“We’re also confident ma-achieve natin ang targets na yun because we already have a number of big players in the charging industry locally. I think they’re just waiting for the right time and moment to go full blast,” Lopez said.
One barrier, he said, is financing because some banks are still reviewing their loan program for EVs. The cost of EVs also remains high.
One barrier, he said, is financing because some banks are still reviewing their loan program for EVs. The cost of EVs also remains high.
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He added that the sector can benefit from additional incentives aside from tax breaks, although he also admitted that may not be possible right now.
He added that the sector can benefit from additional incentives aside from tax breaks, although he also admitted that may not be possible right now.
"What you see in more developed countries are mostly subsidies pa nga. Like if you buy a vehicle, they pay for a certain amount. However we must recognize din that the Philippines is not as rich as these countries," he said.
"What you see in more developed countries are mostly subsidies pa nga. Like if you buy a vehicle, they pay for a certain amount. However we must recognize din that the Philippines is not as rich as these countries," he said.
EV adoption is expected to be highlighted at the Auto Parts and Vehicles Expo 2024 from June 5 to 7 at the World Trade Center in Pasay.
EV adoption is expected to be highlighted at the Auto Parts and Vehicles Expo 2024 from June 5 to 7 at the World Trade Center in Pasay.
Over 120 regional exhibitors will showcase their latest products and solutions, no just in the EV sector, but in the auto industry in general.
Over 120 regional exhibitors will showcase their latest products and solutions, no just in the EV sector, but in the auto industry in general.
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DOE
Electric Vehicles Association of the Philippines
EVAP
Philippines
cars
electric vehicles
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