President Marcos Signs Executive Order No. 121: Establishing the ₱60-Billion Electric Vehicle Incentive Strategy (EVIS) Program
⚡ Presidential Decree & Policy Briefing:
Signed on July 29, 2026, Executive Order No. 121 officially adopts the Electric Vehicle Incentive Strategy (EVIS) Program. Providing ₱60 billion in targeted fiscal support, this landmark initiative promotes local manufacturing of Battery Electric Vehicles (BEVs), Hybrid Electric Vehicles (HEVs), and EV parts to establish the Philippines as a competitive regional automotive hub.
Core Objectives & Industrial Impact of EO 121
As the country's largest vehicle manufacturing incentive package to date—surpassing the 2015 CARS Program—EVIS accelerates the shift toward green mobility, industrial automation, and energy security through performance-based fiscal grants.
Key EVIS Strategy Objectives:
Incentive Structure & Manufacturer Requirements
Participating manufacturers committing a minimum capital investment of ₱5 billion can receive fiscal grants covering up to 40% of capital expenditures for Battery Electric Vehicles (BEVs) and 30% for Hybrid Electric Vehicles (HEVs).
Qualified participants are eligible for performance-based subsidies of up to 12% of the ex-factory unit price, capped at ₱200,000 per unit for fully assembled complete vehicles.
The program accommodates up to four (4) registered EV manufacturers, with fiscal support capped at ₱15 billion per EV model (max 2 models per maker). Enrolled EV models must roll out to domestic or export markets within 3 years of registration.
Managed by the Board of Investments (BOI) under DTI and DOF, the order mandates performance bonds and compliance monitoring to prevent double-dipping with CREATE MORE Act incentives.
Reference: Read the full, official legislative executive order here:
Official Gazette Publication: Executive Order No. 121 (s. 2026) ↗
