Chinese e-vehicle firm investing P25-B in PH

A CHINESE electric vehicle company is registering with the Fiscal Incentives Review Board for three projects worth PHP25 billion, Trade Undersecretary Ceferino Rodolfo said Saturday.

Rodolfo declined to name the firm but said the projects of the Chinese company will involve leasing of e-vehicles, putting up charging stations, and starting an all-e-vehicle transportation network vehicle service

(TNVS).

He said the company is planning to import 20,000 e-vehicles, 10,000 units each for its leasing business and TNVS, and 1,000 charging stations.

“They want to create an electric vehicle ecosystem here,” Rodolfo, also the Board of Investments (BOI) managing head, said in a press briefing.

Executive Order No. 12 that removes tariff on imported e-vehicles and