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NEDA Board proposes tariff modification for electric vehicles

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The National Economic and Development Authority (NEDA) Board on Thursday proposed to President Ferdinand "Bongbong" Marcos Jr. an executive order that would modify the tariff rates of certain electric vehicles.

The National Economic and Development Authority Board on Thursday proposed to President Ferdinand "Bongbong" Marcos Jr. an executive order that would modify the tariff rates of certain electric vehicles.

"In its first meeting, under the administration of President Ferdinand R. Marcos Jr., the NEDA Board [endorsed] an EO modifying tariff rates on certain electric vehicles, such as passenger cars, buses, mini buses, vans, trucks, motorcycles, tricycles, scooters, and bicycles, among others," NEDA Secretary Arsenio Balisacan said at a press briefing.

It also aims to reduce reliance on imported fuel and promote the growth of the domestic EV industry ecosystem, he said.

 

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