7639 ledlights.blog

Are electric vehicles in demand in the Philippines?

Reading Time: 3 minutes
play icon ledlights.blog Listen to this article

The Philippines like the rest of the world is committed to an eco-friendly lifestyle. The government of the Philippines is focusing on the number of ways to reduce air pollution at any cost.

No doubt pandemic was a hard-hit fall on the economic scenario but showed several ways to reduce air pollution. Work from home schemes is not just temporary. The Philippines are looking forward to incentivizing the movement.

A lot of commuters are encouraged to use the higher capacity bus or rail systems in place of private cars. As per a survey by Energy Utilisation Management Bureau, Department of Energy, in 2019, around 11,000 e-motorcycles or tricycles are registered for daily commuting purposes. 594  e-Trucks,e-jeepneys and 309 e-cars, e-sports utility vehicles have been registered till date.

The above-mentioned data is from 2010 for the Philippines. Around 19 charging stations have been installed in the urban land of the Philippines. The bulk of EVs seen in the countries is e-tricycles and e-motorcycles for short distances. Even e-jeepneys are in demand among the locals for short commutation.

As per a survey conducted by Rakuten insight in 2019, the main reasons to purchase electric vehicles by the consumers over traditional vehicles are:-

The reasons to purchase electric vehicles in the Philippines

A clear indication of the need for environmentally-friendly innovation or products. Companies or manufacturers with eco-friendly products can find a stronghold in the Philippines.

How much the Philippines are aware of the electric vehicle models:-

Electric car awareness in the Philippines

It shows that the Philippines are also very much into the new automobile models. The survey shows demand for Japanese automotive more than even the US or Chinese automobile companies.

How willing is the Philippines to buy an electric vehicle over traditional vehicles:-

Willingness to purchase electric vehicle over traditional vehicles

The price is a major issue for electric vehicles. If the consumer finds an electric vehicle of the same price as a conventional car, then the Philippines got higher willingness. Cost is a major factor among the Philippines to switch to eco-friendly vehicles.

As we can see. around 15% agree to buy an electric vehicle if it is cheaper than a conventional car. A major point for any auto manufacturers. Since the average yearly income is US $ 10,700. And in a retail store, the BYD e-cars are sold for US $80,000. People need to wait and plan before purchasing any vehicle. Also, government incentives are helpful in order to raise the sell.

In my opinion, the data shows quite a significant demand in the Philippines. Especially e-bicycles, tricycles, or even e-jeepneys. The market is open to new electric car models.

If the Government incentives and policies are made relaxed, there is a high chance for Automobile manufacture to attract more customers from the Philippines. However, depending on the location, China seems to be a leading player.

Well with time, it can be seen how the e-vehicles can make a mark in the Philippines market.

Source:- Eco-business, Statista

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.