On the matter of bringing electric vehicles into the Philippines, Isuzu Philippines Corp. (IPC) is standing by and taking a “wait and see” approach according to an official at IPC.
Isuzu Philippines Assistant Division Head for Sales Robert D. Carlos said that IPC is supportive of the prospect of EVs entering the Philippines, however, the company is waiting on further developments aside from legislation that will contribute to more buyers choosing EVs like widespread installation of charging stations.
Mr. Carlos also added that IPC has been receiving inquiries from customers regarding electric trucks. Mr. Carlos says that customers are asking if IPC has any plans for EVs in case the Philippine government imposes and people must switch to EVs for trucks.
While IPC is in “wait and see mode” right now, Mr. Carlos divulged that IPC is already preparing for EVs and its introduction to the Philippine market.
“Isuzu is already preparing for EVs. The implementation in the Philippines is just the question. We want to check that the Philippines is ready for EVs. Not only infrastructure but government support as well like incentives and tax,”
Recently, President Ferdinand R. Marcos Jr. inked Executive Order (EO) No. 12, which temporarily modified the rates of import duty on electric vehicle parts and components for five years. According to Executive Order No. 12, the aforementioned articles will be subject to Most Favored Nation (MFN) rates of duty. Back in November 2022, the National Economic Development Authority Board endorsed the reduction of MFN tariffs on certain electric vehicles, as well as their parts, and components for five years.
The EO also imposes zero tariffs for imported EVs across segments such as passenger vehicles, buses, minibusses, vans, trucks, motorcycles, tricycles, scooters, and bicycles for a five-year period. Unfortunately, hybrid vehicles are not included in the five-year zero tariff period.
