The government is aiming to open applications for its flagship Electric Vehicle Incentive Strategy (EVIS) by September, as it moves to finalize the implementing rules and regulations of the incentive program designed to attract large-scale investments in electric vehicle manufacturing.
A government official said the implementing rules and regulations (IRR) of Executive Order No. 121 are now in their final stages, with the application window expected to open shortly after the rules are issued.
“We are now finalizing the IRR of the EO. Upon issuance of the IRR, we may open the application period similar to the Comprehensive Automotive Resurgence Strategy (CARS) Program before. That’s the time companies will apply to enroll as participants with their models,” the official said.
The IRR is expected to be released within a month, potentially allowing applications to begin as early as September.
“Our target is to issue it within a month. Maybe early next month,” the official added.
Signed by President Ferdinand Marcos Jr., Executive Order No. 121 established the EVIS Program, which earmarks P60 billion in incentives for up to four qualified participants to accelerate the development of the country’s electric vehicle manufacturing industry.
The program marks the government’s biggest incentive package yet for the EV sector, reflecting a shift from supporting conventional vehicle assembly under the CARS Program to building a domestic ecosystem for next-generation mobility.
Qualified manufacturers may receive investment support covering up to 40 percent of eligible capital expenditures for battery electric vehicle production, along with production-based incentives tied to locally manufactured EV output over a period of up to 10 years.
The EVIS Program is expected to work alongside the proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program, which seeks to deploy the remaining P9 billion under the CARS Program to sustain industry investments while the government crafts a longer-term automotive development roadmap.
Interest from manufacturers has begun to build ahead of the rollout. Mitsubishi Motors Philippines Corp. has already signaled its intention to participate, while the Board of Investments has said at least two other automakers are also considering joining the program.
The timing of the rollout comes as Southeast Asian economies intensify competition for EV investments, making the speed of implementation a key factor in the Philippines’ ability to attract global manufacturers and strengthen its position in the regional automotive supply chain.
