Tax exemptions, free parking may drive more EVs in the Philippines after new electric car bill turns into a law
Tax exemptions and free parking may drive more EVs in the Philippines after new electric car bill turns into a law.
The law has encouraged car companies to offer more hybrid vehicles. Based on the recent official figures from the Chamber of Automotive Manufacturers of the Philippines , as of end of June 2022, there are already 1,013 total xEVs sold in the market, surpassing the 2021 total volume of 843 and 2020’s 378. A total of 962 of the 2022 year-to-date sales are Toyota and Lexus models.
The lapsing of the bill into the EVIDA law came at a no better time. In early May, fuel prices hit their highest prices yet, reaching up to P90 per liter. Averaging about P75 for gasoline and P78 per liter until late July, the prices are steadying to about P62 per liter. EVIDA also mandates the Philippine Board of Investments to devise an Electric Vehicle Incentive Strategy similar to the Comprehensive Automotive Resurgence Strategy Program , which the DTI earlier said would provide P27 billion in incentives.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Mahindra shows five UK-designed EVs for global sale | AutocarIndian giant’s EVs will sit on new platform using VW components; could come to UK
Weiterlesen »
Local Sourcing Rule Problematic for Expanded $7500 EV Tax CreditJoe Manchin’s component requirements would do for imported EVs what the Chicken Tax did for imported pickups.
Weiterlesen »
Some D.C. Homeowners See Skyrocketing Property Tax Bills After Houses Declared VacantThe homeowners say D.C. mistakenly classified their houses as vacant, leading to huge jumps in their twice-yearly property tax bills.
Weiterlesen »
Trump CFO Allen Weisselberg expected to plead guilty to tax charges, sources sayThe sources said he is expected to serve some prison time.
Weiterlesen »
Letters: Nuclear waste | Too much risk | Solar tax | Alzheimer’s bill | No comparison | Biden’s lieEast Bay Times Letters to the Editor for Aug. 16, 2022
Weiterlesen »
VinFast To Give Buyers $7,500 Discount If Federal Tax Credit DeniedVinFast buyers who are denied the tax credit even though they signed a binding contract with the automaker will automatically qualify for the $7,500 discount.
Weiterlesen »