THE government and the private sector are threshing out a number of issues related to the extension of the Comprehensive Automotive Resurgence Strategy program, including the grant of perks to electric vehicles.
“Because an issue was raised that it should be anchored on [Corporate Recovery and Tax Incentives for Enterprises] CREATE law and not on a specific executive order, which was anchored on the BOI EO,” Rodolfo explained, speaking partly in Filipino. While there are interested participants for the third slot in the CARS program, Rodolfo stressed that there has been a change in the framework since the CREATE law already entered into the picture.
He said the CARS program participants have already put in the fixed investments, noting that it’s not just the two registered participants that contributed, but also their supply chain players, including the parts makers that the program attracted. The P9-billion support includes all the incentives that parts makers, shared service providers and the vehicle assembler will avail of.
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