From Gasoline to Electric| The #philippines Bold Move to Adopt 6 Million EVs by 2030
Up to 6.6 million new electric vehicles (EV) are projected to roll on Philippine roads by 2030 — about half of which will be two-wheelers and e-trikes — an industry official said.
The Electric Vehicle Association of the Philippines (EVAP) has projected cumulative EV sales to hit the 6.6 million mark at the 11th EV Summit in Pasay City, which concluded here on Friday.
Notably, EVAP official Ferdinand Raquelsantos, mentioned that more than half of this number will be two-wheeled and three-wheeled vehicles, which are popular “last-mile” transport solution in the developing country.
Currently, around 60 per cent of e-vehicles fall into this category (two and three-wheel vehicles)
This ambitious target, however, is contingent on several factors: how well the new EV law is executed, regional competition posed by Asean neighbours, how the challenge from “jeepney” sector is tackled, and overall market acceptance of EVs.
The country, however, has a few things going for it. The biggest is the policy shift towards renewables. These include a new law that mandates charging stations as well as a raft of incentives for EV makers and owners. Meanwhile, vendors are also responding, with compelling offers, including price cuts.
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