Local electric vehicle manufacturers open to exporting units
LOCAL electric vehicle (EV) manufacturers are open to entry into the export market, but they will need government help to secure bank financing, the Electric Vehicle Association of the Philippines said on Wednesday ( EVAP).
“Most of our local electric vehicle manufacturers still focus on the local market first; however, if there are opportunities available to them or offered to them, they will not resist having it on an export, ”EVAP President Edmund A. Araga said at the 9e Top of the electric vehicle.
“In terms of technology and experience, they have already proven to the market that it is viable and doable and that their units work,” he added.
Mr. Araga stressed that the “big question” this time is about funding patterns.
“Capitalization is very important for them to get out of it and also offer it to the export market,” he noted.
EVAP, Mr. Araga also said, “hopes” that the finance department will use commercial banks to open their doors to local manufacturers of electric vehicles.
Office of Energy Use Management Director Patrick T. Aquino told the forum that the Department of Energy will soon be issuing a policy on electric vehicle charging stations.
“Public consultations were conducted on electric vehicle charging stations and infrastructure,” he said. “The circular is finally signed. We look forward to its release later this month or early next month. “
“If you go into the electric vehicle charging station business, you get a menu from the investment board,” the official added.
Raymond B. Ravelo, vice president and chief sustainability officer of Meralco, said electric vehicles would play a critical role in the country’s post-pandemic economic recovery.
“If there’s anything COVID has done, it’s created a greater sensitivity to health or respiratory health in general, so EVs definitely support everything in that regard,” he said.
“Electric vehicles have shown great resilience in the face of this pandemic. Even the overall automotive market shrank in 2020, electric vehicles maintained steady growth, ”Ravelo also noted. – Arjay L. Balinbin