President Ferdinand Marcos Jr. signed Executive Order No. 121, establishing the Electric Vehicle Incentive Strategy (EVIS) Program to draw manufacturers to produce electric vehicles (EVs) and components in the Philippines.
Announced Thursday by Communications Undersecretary and Palace Press Officer Claire Castro, the directive fulfills a key commitment from the President’s fifth State of the Nation Address.
The initiative aims to drive job creation, spur investment, reduce reliance on imported fuel, and position the country as a regional automotive manufacturing hub.
“Kapag dito sila nag-invest at gumawa ng sasakyan, mas maraming trabaho para sa mga Pilipino,” Castro noted during a Palace press briefing.
Signed on July 29, the order grants two key fiscal incentives to qualified participants: Fixed Investment Support for capital expenditures—such as tooling, equipment, and research—and a Production Volume Incentive for locally produced or assembled EVs.
Benefits will be distributed through non-transferable tax payment certificates usable for settling specific national tax and duty obligations.
The Board of Investments (BOI) has been designated as the lead agency overseeing the program, supported by the Inter-Agency Committee on Electric Vehicle Industry Development. Applicants must satisfy set investment thresholds, production targets, and registration terms.
Castro emphasized that participating firms will be closely monitored to ensure full compliance with program commitments.
“May mahigpit ding monitoring at may mga kondisyon,” Castro warned.
Under EO No. 121, which takes effect immediately upon official publication, registered entities will face regular audits. Failure to meet agreed targets or terms may result in the forfeiture or refund of incentives, registration cancellation, and additional administrative penalties.