THE Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program will be revived, the Department of Trade and Industry (DTI) said, citing the need to support the internal combustion engine (ICE) vehicle industry due to continuing market demand.
“We will issue the guidelines very soon,” Trade Secretary Ma. Cristina A. Roque told reporters on the sidelines of an event on Tuesday.
This reversed Ms. Roque’s earlier position of dropping the RACE program, with the government declaring its intention to focus on offering incentives to electric vehicle (EV) makers.
“We recognize that, of course, electric vehicles are important now, but there are still (gas-powered) vehicles that are being produced, like for example, the Tamaraw,” she said, referring to Toyota’s light commercial vehicle.
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