Marcos dangles incentives for investors in e-mobility industry

President Ferdinand "Bongbong" Marcos Jr. has indicated that the government will provide incentives to draw in investors in the Philippines' e-mobility industry.

Marcos made the remark as he met with officials of the Department of Science and Technology (DOST) and concerned agencies in Malacañang. The discussions were on the government’s efforts to sustain and improve the country's e-mobility industry through science, technology, and innovation.

“We’re always running into the same problem. It’s the scaling. Production design. Then the investment," Marcos said.

"A high school science student can design an e-trike... The technology is so simple, so well-understood. But it’s the scaling,” he added.

“We need investors to come in. Of course we’ll provide incentives from the government. That’s what we need to do," Marcos said.

"We need incentives for investors to come in. Hopefully local. But we’ll take anybody who’s interested," he added. 

"But then they will have to undertake the production design to scale it up to a level to actually make a difference to the market,” Marcos said.

For his part, DOST Secretary Renato Solidum Jr. said potential investors had been waiting for a policy statement from the Philippine government.

Solidum added that manufacturers and fabricators were also waiting for a government policy. 

He said that the e-mobility industry would generate more employment on maintenance, after-sales service, and other services.

In terms of government policy, the Department of Trade and Industry (DTI) is crafting a strategic roadmap under the Electric Vehicle Industry Development (EVIDA) to formulate policies and come up with possible incentives to support e-vehicles. —NB, GMA Integrated News