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Manila Bulletin devider Philippines devider National devider Address green energy demand, e-vehicle boom --- PBBM

Address green energy demand, e-vehicle boom --- PBBM

Published Aug 18, 2023 06:16 am

At A Glance

  • Marcos cited the need for the private sector and the government to be conscientious in considering the EV industry.
  • Marcos instructed the PSAC-JSG to submit a complete list of the proposals they presented.
  • The PSAC-JSG committed to studying the proposal further and to continue working with their consultants to provide the President with a better plan.

President Ferdinand "Bongbong" Marcos Jr. has asked the Private Sector Advisory Council (PSAC) to submit a list of proposals to address the demand for green energy amid the growing electric vehicle (EV) industry in the country.

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Marcos said this during his fourth meeting with the PSAC Job Sector Groups (PSAC-JSG) in Malacañang on Thursday, Aug. 17.

During the meeting, the President welcomed the public-private partnership (PPP) to make the country a major player in the EV industry, saying the Philippines is becoming part of the global chain for EVs because it already has industry potential.

He, however, noted that consumers’ demand to source power from green energy could pose a challenge in the pursuit of an EV industry in the country.

To address the challenges, Marcos underscored the need for the private sector and the government to be conscientious in considering the issue and instructed the PSAC-JSG to submit a complete list of the proposals they presented.

In response, the PSAC-JSG committed to studying the proposal further and to continue working with their consultants to provide the President with a better plan.

According to the Presidential Communications Office (PCO), the PSAC-JSG presented to the President its new proposed strategies to accelerate job creation in the country, particularly in the agriculture, information technology, business process management, manufacturing, maritime, and automotive sectors.

The PSAC-JSG has thrown its support to the administration’s priority in vehicle manufacturing which includes internal combustion engines and EVs and recommended the conduct of data-driven case studies for top opportunities in the EV value chain.

Among the council’s new recommendations is supporting the government’s thrust in EV manufacturing with a proposal to look into 17 downstream and upstream industry development opportunities, including mining in the EV value chain.

Global EV sales are expected to overtake non-EV sales globally by 2026, deeply reshaping a century-old industry. As EV adoption rises, many vehicle parts will remain but some of the costliest components will be replaced.
 

Related Tags

Bongbong Marcos E-VEHICLE Private Sector Advisory Council (PSAC) President Marcos
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