Honda Cars Philippines Inc. wants the Philippine government to extend Executive Order (EO) 62 which reduced import duties on electric vehicles (EVs) to zero beyond its 2028 expiration date.
The company unveiled its latest line-up of hybrid electric vehicles, fully electric motorcycles and power tools on Tuesday at the Shangri-La The Fort in Bonifacio Global City.
“We hope the Philippine government will kindly consider extending the deadline for EO 62. I think it will be positive for all EV vehicles to accelerate electrification by sales of hybrid models and BEV [battery electric vehicle] models,” said Honda Motor Co. Ltd. vice president and head of regional operations in Asia and Oceania Toshio Kuwahara.
Honda’s commitment to electrification in the Philippines is evident in its plans to introduce the Honda Zero series BEV and expand its hybrid electric vehicle lineup.
Honda launched the new CRV e:HEV and the Civic e-HEV, along with Honda’s first fully-electric motorcycle EM1 e: and a new generation of electric power tools.
Honda general manager for sales Louie Soriano anticipates more robust sales of the e: HEV during the holiday season as sales average 80 units a month.
“We have to create a demand for our hybrid models. Overall, we expect to surpass last year’s sales this 2024,” he said, expressing the company’s gratitude for the government’s support through the Electric Vehicle Industry Development Act (EVIDA).
The company aims for electrified vehicles to comprise 40 percent of its sales by 2030, 80 percent by 2035 and 100 percent by 2040.
It also revealed an annual global sales target of 4 million electric motorcycles by 2030. This year, it plans to launch an electric motorcycle equivalent to the 110 to 125 cc class.
By 2025, Honda aims to have more than 10 electric motorcycle models available worldwide, expanding to around 30 models by 2030.
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