Trade and Industry Secretary Cristina A. Roque said the government will consult the Department of Finance (DOF) again should the number of applicants for the Electric Vehicle Incentives Strategy (EVIS) program exceed four.
Roque made the statement as she revealed that the Board of Investments (BOI), the government’s premier investment promotion agency that she chairs and which administers the EVIS program, has started receiving applications.
So far, Mitsubishi Motors Philippines Corp. (MMPC) and Francisco Motors Corp. are the first applicants.
“But there are some companies that have already signified their interest to join the EVIS. We’re trying to encourage others to join also,” she added.
When asked if the BOI would have to pre-qualify applicants should their number exceed four, Roque said, “We have to talk again, the DOF and DTI,” she said.
Roque said the BOI is already accepting applications while it finalizes the implementing rules and regulations (IRR) of the EVIS Program under Executive Order No. 121, which was signed by President Ferdinand R. Marcos Jr. on July 29, 2026.
The IRR, which will also determine the official application period for interested applicants, is expected to be completed soon, she said.
Incentive-driven
Under EO 121, the government has allocated a PHP60-billion fiscal support package for four EV manufacturers that will invest a minimum of PHP5 billion and build capacity to produce 10,000 EV units annually over the 10-year program.
In return for their investments in EV manufacturing, participants will be entitled to up to PHP15 billion in fiscal support per enrolled model, depending on their compliance with the required production volume. With a total budget allocation of PHP60 billion, the program is expected to accommodate four participants.
The incentives will be granted through two mechanisms—the Fixed Investment Support (FIS) and the Production Volume Incentive (PVI).
The FIS is equivalent to the applicable percentage of total capital expenditure for tooling, equipment, research and development, and engineering changes required to manufacture the model or platform. It also covers initial start-up expenses and training costs for start-up operations, excluding land.
Meanwhile, the PVI is equivalent to up to 12 percent of the ex-factory unit price, but not exceeding PHP200,000 per unit, for the domestic manufacture or assembly of enrolled electric passenger and commercial vehicles.
Registered participants shall be entitled to the FIS under the EVIS Program for a maximum of 10 years from the date of registration of the enrolled EV models or their parts and components.
