THE recent signing of an agreement between the Philippine government, through the Department of Trade and Industry (DTI), and a United States-based firm that would jumpstart the local production of e-motorcycles was welcomed by various stakeholders as this would not only help ramp up the economy but also provide employment to Filipinos.
The deal was sealed last May 1, coinciding with the official working visit of President Ferdinand 'Bongbong' Marcos Jr. to Washington, D.C.Filipino-owned firm Integrated Micro-Electronics signed a cooperation agreement with American company Zero Motorcycles for the local assembly of e-motorbikes and sub-assemblies of batteries and motors, the Presidential Communications Office said.
12, issued by the President early this year, orders the suspension for five years of tariffs on completely built-up units of certain EVs such as passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters and bicycles.It is up for review starting February 21, 2024.As stated in the circular, different types of EVs and their components have received tax breaks, with the exclusion of e-motorcycles which are still subject to a 30 percent tariff rate.
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