President Ferdinand Marcos Jr. inaugurated Tesla Motors Philippines on Monday, marking the electric vehicle (EV) giant’s entry into its fourth Southeast Asian market.
Marcos lauded Tesla’s investment as a testament to the country’s potential and a significant step toward sustainable transportation and environmental protection.
He highlighted government initiatives like the Evida Act, the TRAIN Act, and Executive Order 62, which provide tax incentives, duty-free importation for EV-related equipment, and prioritized privileges for EV users.
The administration aims to achieve a 50% EV market share by 2040 while empowering the local workforce with sustainable technology expertise.
Marcos underscored Tesla’s presence as a milestone in advancing the country’s clean energy and high-tech transportation sectors.
Source: PhilNews24 | January 21, 2025
