On May 15, 2024, the National Economic and Development Board (NEDA) of the Philippines approved an extension of the most-favored-nation (MFN) zero-tariff rate on more battery electric vehicles (EVs) and components. In addition, it upheld the decision to impose a temporary MFN zero-tariff import rate on 34 battery EV products until 2028. These temporary rates were first introduced through Executive Order (EO) No. 12 (s. 2023) (hereinafter EO 12) and were subject to a one-year review following their implementation in February 2023.
