BOI grants perks to electric vehicle firm

The Board of Investments has approved the granting of incentives for the P18.9-million project of Philippine Utility Vehicle Inc. (PHUV), which plans to produce and supply electric vehicles to the local market.

The local firm, which began commercial operations at the Cavite Light Industrial Park last month, targets to produce 6,000 e-trikes and 200 e-jeepneys every year.

The e-jeepneys will use 12 6-volt 220AH batteries, which can be fully charged within eight hours at a cost of P150.

A fully charged e-jeepney has a maximum range of 55 kilometers and a top speed of 35 kilometers per hour (kph).

The e-trikes, meanwhile, have a maximum range of 25 km and top speed of 20 kph.

The batteries for the e-trikes require only four hours to fully charge at a cost of P100.

According to the BOI, the manufacture and assembly of motor vehicle is one of the priority activities under the Investments Priorities Plan (IPP).

The IPP, which is revised regularly, outlines the priority areas for investments that the private sector can put their money in and possibly be entitled to incentives.

The manufacture of e-vehicles was provided incentives as the government considers the use of e-vehicles a viable solution to the problem of pollution and increasing greenhouse gas emissions.

PHUV, the BOI added, has partnered with local governments to promote the Climate Friendly Cities program, which aims to use energy from organic wastes from the wet markets, business establishments, household and farms; and power environment-friendly public transportation systems composed of e-jeepneys and e-trikes.

Meanwhile, four other companies are seeking incentives such as income tax holiday and duty free importation of equipment for their respective projects.

Mitsukoshi Motors Phils. Inc. is applying to be registered as a new domestic producer/assembler of motorcycle on a pioneer status.

Basic Housing Solutions Inc., meanwhile, is seeking registration as an expanding developer of a low-cost mass housing project in Cavite.

Axeia Development Corp. is also seeking registration as a new developer of mass housing projects in Sto. Tomas, Batangas.