NEDA Board approves zero tariff policy for two-wheeled EVs, hybrid vehicles, others

The NEDA Board has approved the reduction of tariffs on e-bikes, hybrid vehicles and others to promote their use in the country./PCO/

(Eagle News)–The National Economic Development Authority Board has approved the reduction of tariffs imposed on e-motorcycles, e-bicycles and nickel metal hydride accumulators to zero until 2028.

Also covered by the zero tariff policy are e-tricycles and quadricycles, hybrid EVs and plug-in hybrid EV (PHEV) jeepneys or buses.

The NEDA Board, in its 16th meeting on Wednesday, May 15, also agreed to maintain the Most Favored Nation rate at zero for duty on 34 tariff lines of battery electric vehicles currently covered by Executive Order No. 12.

President Bongbong Marcos, who sits as NEDA Board chair, ordered an annual review of the rates to ensure timeliness and applicability to sectors concerned.

“By encouraging consumers to adopt EVs, we are promoting a cleaner, more resilient, and more environmentally friendly transportation alternative,” NEDA Secretary and board vice-chair Arsenio Balisacan said.