Electric vehicle maker gets BOI incentives

MANILA, Philippines - Philippine Utility Vehicle Inc. (PHUV), a firm engaged in the manufacture of electric vehicles, has secured tax perks for its P18.9 million project in Cavite.

“The Board of Investments (BOI) approved the P18.9 million project of the PHUV as a new domestic producer of electric vehicles, specifically e-trikes and e-jeepneys,” the agency said in a statement yesterday.

PHUV’s facilities are located at the Cavite Light Industrial Park.

The firm, which started commercial operations last month, plans to produce 6,000 units of e-tricycles and 200 units of e-jeepneys per year.

The firm’s e-jeepneys run purely on an electric power engine. Their batteries can be charged for eight hours.

When the batteries are fully charged, the e-jeepney has a maximum range of 55 kilometers (km) and a top speed of 35 kilometers per hour (kph).

The e-trikes, meanwhile, only require four hours to fully charge. These have a maximum range of 25 km and top speed of 20 kph.

The BOI said PHUV intends to employ 97 personnel for its facilities.

The firm can enjoy incentives such as income tax holidays and duty-free importation of capital equipment with the approval of the registration of the project.

The 2012 Investment Priorities Plan (IPP), which serves as the government’s investment promotions blueprint, has listed the manufacture or assembly of motor vehicles as a preferred activity.

The coverage of motor vehicles includes alternative fuel vehicles and electric vehicles.

The government is offering incentives for investments being made in activities listed in the IPP to encourage firms to pour in funds for projects that can create jobs and promote economic growth.

PHUV is a 100 percent Filipino-owned firm.

It has partnered with different local government units to promote the Climate Friendly Cities program which aims to use energy from organic wastes from the wet markets, business establishments, household and farms to power environment-friendly public transportation system composed of e-jeepneys and e-trikes.