Demand for electric vehicles up amid rising fuel prices

Demand for electric vehicles up amid rising fuel prices

DEMAND FOR ELECTRIC VEHICLES UP AMID RISING FUEL PRICES

Consumers in the Philippines are increasingly considering electric vehicles as fuel prices soar, with more mass-market buyers now showing interest.

However, Willy Tee Ten, president of the Electric Vehicle Association of the Philippines, tells #Business360 that growth remains limited by the lack of charging infrastructure and slow implementation of government EV policies.

Despite high upfront costs, electric vehicles can save up to 70% on fuel, making them an attractive alternative amid the energy crisis.

More on this in the full episode of #Business360.