On 15 April 2022, Republic Act (R.A.) No. 11697 or the Electric Vehicle Industry Development Act (EVIDA) lapsed into law without being approved or vetoed by the President.
EVIDA will take effect 15 days following its complete publication in the Official Gazette or in a newspaper of general circulation. EVIDA was published in the online Official Gazette on 16 April 2022.
The passage of EVIDA is in line with the country's policy to ensure its energy security and independence by reducing reliance on imported fuel for the transportation sector. The law is instrumental for the formulation of regulations to promote an environment for competitive, equitable and non-discriminatory private sector participation.
The law establishes the CREVI, which is a national development plan for the electric vehicle (EV) industry with an annual work plan to accelerate the development, commercialization and utilization of EVs in the country. The CREVI is comprised of four components, as follows:
EVIDA provides the following fiscal incentives:
EVIDA also provides the following non-fiscal incentives:
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