02/08/2026
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Electric vehicle (EV) prices in the Philippines could fall by 6% to 12% following the issuance of Executive Order No. 121 by President Ferdinand Marcos Jr., which establishes the Electric Vehicle Incentive Strategy Program.
According to the Department of Energy (DOE), the program is designed to encourage companies to manufacture and assemble electric vehicles and EV components in the Philippines through a package of government incentives.
Energy Secretary Sharon Garin said the initiative is expected to increase the availability of electric vehicles in the local market, create more jobs for Filipinos, and help reduce vehicle prices.
The DOE estimates that lower manufacturing and transportation costs could allow buyers to save as much as ₱200,000, depending on the vehicle model.
The agency also said the program is expected to reduce the country's dependence on imported oil by accelerating the shift from gasoline- and diesel-powered vehicles to electric mobility.
Alongside the incentive program, the DOE said it will continue expanding the country's EV charging infrastructure and implement additional measures to encourage wider adoption of electric vehicles.
Under Executive Order No. 121, an inter-agency committee will oversee the implementation of the program in coordination with various government agencies.
