Marcos wants lower electric vehicle production cost

President Ferdinand ''Bongbong'' Marcos Jr. on Tuesday ordered the Department of Energy and other concerned agencies to focus on finding ways to lower the production cost of electric vehicles.“It’s the cost of production. Let’s focus on that for now – cost of production and financing. I think that’s it. Cost of production and financing and the charging infrastructure,” Marcos told the DOE during a sectoral meeting.

Marcos also said the government was studying the process of transitioning to electric vehicles, which will be made in compliance with the EV Industry Development Act . This would accelerate the development and utilization of electric vehicles, improving energy security and reducing greenhouse gas emissions.

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