Philippine President Ferdinand Marcos Jr. has made a significant move to boost the country's electric vehicle (EV) industry with the signing of Executive Order 121. The order creates a P60 billion incentive package aimed at promoting the adoption and development of EVs in the Philippines. The massive investment is expected to drive the growth of the local EV market, creating jobs and reducing the country's reliance on fossil fuels. By providing a significant financial boost to EV manufacturers and buyers, Marcos' administration hopes to put the Philippines at the forefront of Southeast Asia's EV revolution.
Marcos signs EO 121 creating P60 billion EV incentive package Inquirer.net
