Last week we got word that the finalized version of the electric vehicle bill has been sent to the Office of the President to be signed. Even if President Duterte doesn't, it will become law unless he vetoes it.
Now we have a copy of the law that has been sent to the Office of the President, and what is apparent is that lawmakers removed any mention of incentives that could make EVs more affordable for us. There will be no special changes to existing taxes, tariffs, and duties for imported EVs. That means EVs only benefit from zero excise taxes based on the last tax reform law , but will still be subject to the full import duty and VAT. EVs are very expensive to produce given the technology and the prices of batteries, but another factor is the import duty. That's why certain vehicles that don't fit free trade agreements or special rules are very expensive in the Philippines.
That means while malls and establishments are obligated to invest in special parking spaces with charging stations, very few will actually be able to use them because the prices of automobiles that would need that are still going to be exceedingly high vis-a-vis the vehicle size. EVs like the Chery Arrizo 5e costs PHP 1.9 million, the BYD S1 EV is at PHP 2.0 million, while the Nissan Leaf is around PHP 2.8 million.