Manila: Senator Sherwin Gatchalian said Wednesday the government needs to accelerate the country's adoption of electric vehicles (EVs) to mitigate the impact of higher oil prices amid the escalating armed conflict in the Middle East. 'The ongoing hostilities in the Middle East should serve as a wake-up call. We desperately need to reduce the country's vulnerability to oil price volatility,' Gatchalian said in a statement.
According to Philippines News Agency, Gatchalian emphasized that accelerating the transition to the adoption of EVs would help insulate the local economy from fuel shocks, noting that the Philippines imports about 96 percent to 99 percent of its oil requirements. He stressed the need for the government to speed up the establishment of necessary infrastructure support, such as charging stations, to encourage more organizations and individuals to adopt EVs.
Under the Comprehensive Roadmap for the Electric Vehicle Industry (CREVI), the government has set a conservative target for the country to have 7,300 vehicle charging stations by 2028, compared with a more ambitious goal of 66,500. CREVI was adopted following the May 2022 enactment of the Electric Vehicle Industry Development Act (EVIDA) to support EV adoption nationwide.