The Department of Trade and Industry (DTI) through Board of Investment (BOI) shall recommend for approval to the Fiscal Incentives Review Board (FIRB) an EV incentive strategy (EVIS), similar tax incentives driven to the Comprehensive Automotive Resurgence Strategy (CARS) Program, to ensure the creation of an enabling business environment for the country’s electric vehicle (EV) industry. DTI Secretary Alfredo E. Pascual, who is also chairman of the BOI, announced the plan in his speech at the signing of a Lease Agreement between Envirotech Vehicles, Inc. (EVT) and Berthaphil, Inc. on Tuesday, March 2023. EVT, a US-based transportation industry provider specializing in all-electric vehicles, is gearing up to set up a manufacturing plant for electric vehicles (EVs) at the Clark Freeport Zone.  EVT is specializing in all-electric vehicles for commercial and industrial use. Following its success in the US, EVT is now entering the Philippines and is geared to set up a manufacturing plant for EVs at the Clark Freeport Zone. The DTI Secretary did not specify the incentives to be granted for EV investments, except to say that the planned EVIS would be patterned after CARS. The existing CARS program provides two kinds of incentives. The first is fixed investment support (FIS) incentive for body shell and large plastic assemblies, common parts and shared testing facility, and strategic parts. Once these equipment and machineries have been put up, the CARS participant should be able to enjoy its tax incentives. A second type of incentive will also be given based on actual production of the participant carmaker. This means that each participant should produce 200,000 units of its enrolled CARS model to avail of this second investment. The six-year program was good for three participants but attracted only two. These are Toyota Motors Philippines and Mitsubishi Motors Philippines. Toyota and Mitsubishi’s initial investments totaling P8 billion will create some 14,000 new jobs, salaries and wages of which will also amount to Php8 billion over a six year period.  Parts makers who will be working with Toyota and Mitsubishi are expected to  generate over Php18 billion fresh investments for the country. The CARS Program also expects total government revenues to amount  P408 billion in import duties, VAT, excise tax, income tax, withholding taxes. Direct purchases of raw materials for parts making will amount to P63 billion. Pascual emphasized the Philippine government's goal of developing a sustainable, inclusive and industrialized economy that will pave the way for the Philippines to penetrate the global EV value chain. The global shift to green products such as EVs is crucial to address environmental problems caused by climate change. As the current administration aspires to enter the global EV value chain, several legislations have been passed to develop the local EV industry such as the–Comprehensive Roadmap for the Electric Vehicle Industry (CREVI) and the Electric Vehicle Industry Development Act (EVIDA), which will require the government to implement and allocate five percent of their fleet to EVs. Under the EVIDA Act, fiscal and non-fiscal incentives are provided to encourage the purchase and utilization of EVs by Filipino consumers. Aside from tax incentives available under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, importation of EVs are now duty-free under Executive Order No. 12, Series of 2023. The tariff rate of EV passenger cars, buses, minibuses, vans, trucks, kick-scooters, and bicycles are reduced to zero for the next five years. This is complementary with DTI’s goal of encouraging EV investments by lowering its importation costs, introducing its viability to the public, encouraging shift to less oil-dependent transport options, and improving the country’s energy security. "Aside from our commitment to combat climate change through the use of EVs, the DTI also aims to aggressively position the Philippines in the battery segment of the global market. Given the presence of abundant nickel and cobalt reserves, the Philippine government is consistently promoting the country as a potential manufacturing hub for battery production," said Pascual. "Your investment forms part of the Philippine EV manufacturing ecosystem we are developing. We seek to create an end-to-end value chain from the mining and processing of green metals to the local manufacture of batteries, charging stations or units, and EVs,” added Pascual in his speech at the signing of the lease agreement. Pascual further recognized the significant role played by EVT's investment and expansion in developing and realizing the potentials of the country’s EV industry. He said in closing that "the growth and development of the EV industry is crucial in making green investments and jobs happen in the Philippines as we aim to generate stable, high-quality, and better-paying jobs for Filipinos, while achieving shared prosperity for all."