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Envirotech Vehicles (EVT) of the United States and Clark-based developer Berthaphil Inc signed a lease contract for the site of an electric vehicle manufacturing plant in Clark Freeport Zone
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EVT is investing US$80 million for the 15,000 to 20,000-square-meter EV factory
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The factory is designed to have a maximum of five assembly lines, each with a capacity of 360 vehicles per year, or a total of 1,800 units per year
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EVT is a transportation provider and manufacturer of all-electric and zero-emission vehicles, specifically electric and hybrid-electric buses and trucks
Envirotech Vehicles (EVT) is investing $80 million to build an electric vehicle (EV) manufacturing plant at the Clark Freeport Zone (CFZ).
A US “green vehicle” maker, EVT signed on March 28 a lease contract with Clark-based developer Berthaphil Inc. for a site in CFZ where it will put up an EV plant.
EVT is a transport provider and manufacturer of all-electric and zero-emission vehicles, specifically electric and hybrid-electric buses and trucks. Berthaphil is a commercial, industrial, residential, and real estate developer in CFZ.
EVT’s 15,000- to 20,000-square-meter manufacturing plant is designed to have a maximum of five assembly lines, each with a capacity of 360 vehicles per year, or a total of 1,800 vehicles annually.
“Today’s signing of the lease agreement of Envirotech Vehicles or EVT marks an important first step in our efforts to develop the electric vehicle industry in the Philippines and advance the country’s goal of becoming a regional hub for manufacturing,” Finance Secretary Benjamin Diokno said in his remarks during the agreement signing.
Diokno said EVT can benefit greatly from the Philippines’ pool of young, highly skilled, tech-savvy, and globally competitive workers. He also highlighted key investment-friendly reforms that have made the country’s business environment attractive to electric vehicle industry players.
In 2022, the government enacted the Electric Vehicle Industry Development Act (EVIDA), which aims to promote an equitable, competitive, and non-discriminatory environment for private sector participation in the electric vehicle industry.
EVIDA also provides fiscal and non-fiscal incentives that will significantly reduce the cost of doing business and quicken the development, commercialization, and utilization of EVs in the country.
Furthermore, the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act provides an enhanced menu of performance-based tax incentives.
The EV industry is qualified to apply for incentives under Tier 2 of the Strategic Investment Priority Plan (SIPP), which covers electric vehicle assembly and manufacturing, as well as the establishment of EV infrastructure.
“We are determined to not only catch up with the development of the electric vehicle industry, but to take larger, bolder strides to stay a step ahead of the game at the soonest possible time,” Diokno said.
“We look forward to welcoming EVT here in the Philippines to become a part of this grand undertaking.”
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