President Ferdinand Marcos Jr. wants reduced production costs for e-vehicles by 2040. Stock photo
MANILA, Philippines — President Ferdinand Marcos Jr. said on Tuesday that he wants reduced production costs for electric vehicles (EVs).
The government wants 50 percent of automobiles on the roads to be EVs by 2040. Marcos told the Department of Energy (DOE) and other agencies to find ways to lower the cost of production.
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“It’s the cost of production. Let’s focus on that for now – the cost of production and financing. I think that’s it. Cost of production and financing and the charging infrastructure,” Marcos told the DOE in a sectoral meeting.
According to Malacañang, the government is studying the transportation transition toward EVs.
In a Palace briefing, DOE Usec. Felix Fuentebella said that there are only 7,000 EVs registered in the country.
“We only have .001 percent, or 7,000 electric vehicles registered out of the 14,300,000 registered vehicles,” said Fuentebella.
While Fuentebella said there is still a long way to go, the government is eyeing a fleet approach.
“We are not only looking into the technology, but the President also wants us to focus on achieving the numbers by looking at fleet or the group approach, looking at the consumer experience, and identifying what stifles the financing,” said Fuentebella in a mix of English and Filipino.