Wider adoption of electric vehicles (EVs), particularly in public transport, could reduce the Philippines’ reliance on imported fuel and lower transport costs, industry leaders told BusinessWorld on Wednesday.
The officials argued that electrification has become an economic imperative, not just an environmental goal, as it can help the country cut its dependence on imported petroleum products and shield consumers from volatile global oil prices.
They noted that shifting to EVs in public transport, such as jeepneys and buses, offers the greatest potential for fuel savings and emissions reduction, given the sector’s high fuel consumption and daily mileage.