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The Department of Trade and Industry said it does not support the reduction of most favored nation tariff rates on hybrid electric vehicles which is being explored as part of the review on Executive Order No. 12.
He said extending the same tax breaks to HEV would defeat the purpose of the EO which is to increase the sales and use of fully electric vehicles in the Philippines. He said creating a critical mass of EVs in the market would stimulate investment on infrastructures such as charging facilities, parts manufacturing, EV battery manufacturing and other allied industries and services.
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