There’s an opportunity to be had in the rising demand for electric vehicles (EV) in the Philippines, but unfortunately, the country has yet to respond by investing in a local EV manufacturing industry.
The remark comes from Rafaelita Aldaba, the undersecretary for competitiveness and innovation group at the Department of Trade and Industry. She said during a webinar that until the Philippines has an EV industry of its own, it would have to keep depending on imports.
Aldaba estimates 6.6 million electric vehicles will be operating on local roads by 2030, with DTI aiming to manufacture half that number locally.
That target number is possible as the country already has an active manufacturing industry for EV parts and components. Aldaba recommends building on that through priorities in establishing a local EV industry.
Besides parts and components, these priorities include EV assembly, battery charging, storage and recycling, and the outsourcing of engineering services.