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Electric vehicle sales continue growing thanks to public, private initiatives

BusinessWorld logo BusinessWorld 7/10/2018 Santiago Jose Arnaiz
a close up of a truck: Electric vehicle sales continue growing thanks to public, private initiatives © Provided by BusinessWorld Electric vehicle sales continue growing thanks to public, private initiatives

Electric vehicle (EV) sales this year will continue growing thanks to ongoing public and private initiatives — including putting up support infrastructure and enacting policies that back the industry’s growth — the head of the country’s main EV group said.

“Are EVs finally taking off? Without a doubt,” Rommel T. Juan, president of the Electric Vehicle Association of the Philippines, told participants of the 6th Philippine Electric Vehicle Summit in Pasay City.

Mr. Juan said, based on a study by consulting firm Frost & Sullivan, global electric car sales last year exceeded the one million mark, ending the year with 1.2 million units sold. Battery electric vehicle made up the majority of sales.

This year, global sales are expected to reach 1.6 million units, and the number of public charging stations will reach 100,000, he said, citing the study.

“There are now 3.3 million electric cars in use around the world. China and Europe together make up about 75% of the global EV market,” he said.

Among the private firms supporting the growth of electric vehicles in the country is Unioil Petroleum Philippines, Inc., which last month launched its second electric vehicle charging station in Metro Manila, with plans for 10 more to be put up before the end of the year.

In the public sector, Senator Sherwin T. Gatchalian, Senate energy committee chairman, said his office is currently finalizing legislation to promote the entire e-vehicle ecosystem, “from charging stations, to the usage, all the way to importation and even manufacture of e-vehicles in our country.”

According to Mr. Gatchalian, demand for these vehicles will see major growth as soon as they become more affordable, citing studies that show e-vehicle prices matching those of traditional cars by 2025. — Victor Saulon

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