VIETNAM automaker VinFast has expressed interest in the government’s Electric Vehicle Incentive Strategy (EVIS) program, hoping to benefit from incentives for its upcoming electric vehicle (EV) manufacturing plant in the Philippines.
Speaking to reporters last week, Trade Secretary Maria Cristina A. Roque said the automaker is awaiting the release of the EVIS guidelines before it applies for the program.
“They’re definitely interested to join the EVIS but the guidelines aren’t out yet,” she said.
VinFast parent firm Vingroup recently announced plans to build a P32-billion EV manufacturing plant in the Philippines.
Ms. Roque said the company is considering Batangas as the location of its upcoming facility.
“They’re looking at Batangas, that’s their preferred location because they need to be beside or very close to the ports,” she noted.
VinFast wants its facility to rise on a Batangas economic zone that can accommodate 300 hectares, Ms. Roque added.
Construction of the facility will begin at the first quarter of 2027 and will be completed in one and a half years.
The plant is expected to produce an initial 200,000 vehicles that will serve domestic and export markets.
The project will also be entitled to perks under Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act. It will also be eligible for the green lane system of expedited permits.
VinFast is the third vehicle maker expressing interest in the EVIS program, following Mitsubishi Motors Philippines Corp. and Francisco Motors Corp.
Established under Executive Order No. 121, EVIS offers a P60-billion fiscal package for EV manufacturers to encourage domestic production.
The government plans to offer four slots for four EV models, which will each receive P15 billion worth of incentives.
Ms. Roque said it is hoping to release the EVIS guidelines this month. — Beatriz Marie D. Cruz