121 establishing a P60-billion incentive program aimed at attracting investments in electric vehicle manufacturing in the Philippines. The Electric Vehicle Incentive Strategy (EVIS) Program will provide fiscal support to qualified manufacturers of hybrid vehicles, battery-electric passenger cars, commercial electric vehicles, and specialized automotive parts and components. Participating manufacturers may enroll up to two EV models, with incentives capped at P15 billion for each model. The entire program has a maximum incentive ceiling of P60 billion, subject to annual government budget allocations. Support will cover capital investments in domestic manufacturing plants and production lines, as well as incentives linked to specific local production targets.