Manila: The proposed Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program is still a go along with the incentives program for manufacturers of electric vehicles (EVs), Trade and Industry Secretary Ma. Cristina Roque said Tuesday.

According to Philippines News Agency, RACE aims to provide car manufacturers incentives if they have domestic operations. It was earlier reported to have been shelved. Under this proposed program, investors who participate will receive incentives if they manufacture around 100,000 units of three specific models of four-wheeled internal combustion engine (ICE) vehicles.

The earlier proposal is for each investor to receive fiscal support not exceeding PHP3 billion, or 40 percent of capital expenditure. Roque declined to elaborate on the latest developments on the RACE program, saying more details, such as the guidelines, will be announced in the coming days.

'We never stop talking about the incentives that we can give. We recognize that, of course, electric vehicles are important now but there are still vehicles that are being produced, like for example, the Tamaraw and all of that,' she said. The Trade chief said there is a need to support manufacturers since four-wheeled ICE vehicles are being utilized by micro, small and medium enterprises while others are used as ambulances and police vehicles.