Electric vehicle batteries producer gets fiscal perks on February 23, 2021 at 8:37 am
A manufacturer of fast chargers and retrofit kits for electric vehicles (EVs) has secured fiscal perks from the government for its commitment to produce EV batteries.
The Board of Investments (BOI) has approved the application of CHRG Electric Vehicle Technologies, Inc. as a new domestic producer of the said EV tools on a non-pioneer status under the current Investments Priorities Plan listing of Innovation Drivers. CHRG invested Php3.9 million for the project.
CHRG having non-pioneer status means it is granted up to four years of income tax breaks. Its project, based at the National Engineering Center at the University of the Philippines-Diliman, also gets duty exemption on imported capital equipment, spare parts and accessories, and wharfage dues. The project would also get tax breaks on breeding stocks and genetic material and tax credits on imported raw materials, among others.
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© Yatish Ramdharrysing. Courtesy of Zaheer Allam
A native of the Indian Ocean island nation of Mauritius, Zaheer Allam was a gifted student from the start. He holds a bachelor’s degree in architectural science, a master of arts degree in political economy, and a doctorate in humanities, all from universities in England and Australia. Based in his homeland, Allam works as an urban strategist and consults on matters related to “smart cities” and the intersection of technology and social concerns. He represents Africa in the International Society of Biourbanism. The president of Mauritius recently awarded him the rank of Officer of the Order of the Star and Key of the Indian Ocean, the highest order of distinction the nation has to offer. A Next Einstein Forum fellow, Allam has interests that include clean energy, sustainable development, building planned cities, and improving the livability of existing cities. He is the author of seven books on urban affairs, including