The Department of Trade and Industry (DTI) expects around 680,000 jobs under its recently approved Electric Vehicle Incentive Strategy (EVIS), which is now awaiting endorsement to the Fiscal Incentives Review Board (FIRB) for approval of its proposed incentives.
In a news release, DTI Secretary Cristina A. Roque said the new strategy is expected to attract ₱120 billion in capital investments that would help spur job creation across the country. The said influx of investments will generate about ₱11.4 trillion in economic output.
In addition, the EVIS is expected to boost the government’s tax revenue by ₱400 billion compared to a fully import-based electric vehicle (EV) market, funding essential public services. It will also save the country up to $30 billion in foreign exchange by reducing dependence on imported vehicles and parts.
“President Ferdinand Marcos Jr. has made it clear: Economic transformation must be felt by every Filipino. The EVIS is our concrete response, laying the foundation for a strong, inclusive EV industry that empowers our workers, strengthens local manufacturing, and delivers lasting opportunities for communities nationwide,” said DTI Secretary Roque.
The DTI’s Board of Investments developed the EVIS, anchored on the Electric Vehicle Industry Development Act (EVIDA), to provide targeted fiscal and non-fiscal incentives that stimulate local production of EVs, batteries, motors, components, charging stations, and testing facilities. The incentive structure supports both capital investment and sustained production.
Eligible companies will be required to comply with Philippine and international standards, provide long-term after-sales support, and submit BOI-vetted investment plans.
The strategy sets ambitious yet attainable production targets from 2028 to 2040, supporting the local rollout of up to nine million electric vehicles, including two- and three-wheelers, passenger cars, buses, and trucks, along with nearly 400,000 charging stations.
The DTI is working closely with the FIRB to finalize the EVIS, which is scheduled for deliberation next month, in July 2025.
