Finance Secretary and Fiscal Incentives Review Board (FIRB) Chair Frederick D. Go welcomed the issuance of Executive Order No. 121, establishing the Electric Vehicle Incentive Strategy (EVIS) Program, describing it as a major step toward developing a globally competitive electric vehicle (EV) manufacturing industry in the Philippines.
Approved by the FIRB in May 2026, the EVIS Program provides a targeted, performance-based incentive framework to attract large-scale investments in EV manufacturing and strengthen the country’s participation in the global automotive value chain.
The program offers up to PHP 60 billion in fiscal support to qualified manufacturers and is expected to reduce the country’s dependence on imported fossil fuels, accelerate the transition to cleaner energy, and strengthen long-term energy security.
Secretary Go thanked President Ferdinand R. Marcos Jr. for his leadership in advancing the initiative, saying the Executive Order reflects the Administration’s commitment to building future-ready industries that generate quality jobs, drive industrial transformation, and enhance the country’s long-term economic growth.
“The EV Incentive Strategy sends a clear signal that the Philippines is ready to compete for the next generation of automotive investments. Through a targeted and performance-based incentive system, we are encouraging manufacturers to build, innovate, and grow in the Philippines while creating quality jobs for Filipinos,” he said. “We thank President Ferdinand R. Marcos Jr. for his steadfast leadership and vision in making this initiative possible.”
The Department of Trade and Industry (DTI), the Board of Investments (BOI), and the Department of Finance (DOF) worked closely with the FIRB chaired by Secretary Go, and other government agencies in designing the program to ensure that fiscal support is tied to measurable economic outcomes.
Under the Program, participating manufacturers may register up to two EV models and qualify for either Fixed Investment Support (FIS) or Production Volume Incentives (PVI), subject to investment and performance requirements. It incorporates strict monitoring and compliance mechanisms, including performance bonds and safeguards against the double availment of incentives under the CREATE MORE Act.
The EO covers manufacturers of Hybrid Electric Vehicles (HEVs) and Battery Electric Vehicles (BEVs), as well as their accredited parts manufacturers. The government aims to enroll up to four participating EV manufacturers into the program, with fiscal support capped at PHP 15 billion per EV model. Registered participants must introduce locally manufactured EVs to the domestic or export market within three years from registration.
“Through EVIS, we are laying the groundwork for a globally competitive EV manufacturing ecosystem – one that will attract high-quality investments, strengthen local supply chains, support our energy security goals, and create more opportunities for Filipino workers. This is a strategic step toward building the country’s industrial future,” Secretary Frederick Go added.
