President Marcos believes that the shift to electric vehicle is a sensible step given the volatility of oil products in the world market.
Marcos made the statement as he led the launching of Dongfeng Motors in the country on Monday, Oct. 16.
"Considering our continued dependence on imported fuels and the volatility of oil products in the world market, it is only sensible that we encourage the shift to electric vehicles," Marcos said in his remarks.
"We not only get savings in fuel and gas, but also significantly lessen our greenhouse gas emissions and champion sustainability in our day-to-day activities," he added.
The President also cited the promotion of the use of electric vehicles as among the measures of the government to uphold the Philippines' commitment under the Paris Agreement.
Under the treaty, the country pledged to a projected greenhouse gas emissions reduction and avoidance of 75 percent for 2020 to 2030 in agriculture, wastes, industry, transport, and energy.
In the Philippines, the transportation sector is the largest source of energy-related greenhouse gas emissions, Marcos noted.
"So, if we aim to fulfill our pledge to the Paris Agreement, we need to boost the share of electric vehicles in the total projected vehicle fleet nationwide," he said.
He explained that the government aims to increase the share of electric vehicles to 10 percent or hopefully 50 percent by 2040.
"As of late 2020, there are just around 8,800 electric vehicles in the country," he said.
"So, to boost this number, we are working on the gradual shift to electric vehicles for public transportation," he added.
To date, nearly 400 electric public utility vehicles are plying 29 routes nationwide.
He enjoined the public to support the programs implemented to achieve the pledge and urge to opt for alternative or renewable sources of energy.
The Chief Executive also mentioned that owning an electric vehicle in the country "confers a wide range of incentives and advantage."
"Aside from having priority in the registration and renewal of registration of vehicles at the Land Transportation Office, owners will also get to enjoy exemption from the number coding schemes, amongst others," he said.
He also encouraged the private sector to participate in the efforts to make the Philippines a part of the global chain of electric vehicles by investing in manufacturing facilities.
In return, the government offers fiscal incentives such as the Income Tax Holiday and duty exemption of capital equipment, raw materials, and spare parts used in electric vehicles.