LTFRB eyes e-vehicle transition for 6,000 jeeps

MANILA, Philippines — Around 6,000 traditional jeepneys are being eyed for conversion to electric vehicles by the Land Transportation Franchising and Regulatory Board by the end of the year.

LTFRB Chairman Vigor Mendoza II said the figure represents five percent of the 120,000 jeepneys as required under the Electric Vehicle Industry Development Act.

Under the EVIDA Law, at least five percent of public utility vehicles (PUVs), including jeepneys, buses, tricycles, taxis and transport network vehicle services are mandated to transition from internal combustion engine to EVs.

Mendoza said about 50,000 taxis are transitioning to EVs, with other bus companies beginning to apply for hybrid fleets.

“The first (PUVs) to transition to EV are taxis. We’re looking at more or less 10,000 EV taxis now,” he said.

Mendoza said there are fewer than 1,000 modernized electric jeepneys on the road.

To accommodate the transition, the Department of Trade and Industry (DTI) said it is awarding loans to PUV operators under the E-Transport Loan Program through the Small Business Corp.

“We have a grace period where you don’t have to pay the principal or interest for a year. After the second year, you will only have to pay at the interest rate of 6.7 percent per annum,” DTI Secretary Cristina Roque said.

According to the DTI, up to P1.5 million may be borrowed per vehicle, with a cap of P3 million, payable up to five years under competitive terms.

Roque said the shift to EVs would allow PUV drivers and operators savings of up to 80 percent.

Pasang Masda national president Obet Martin welcomed the initiative, saying the shift to EVs would reduce fuel costs amid rising pump prices.