RACE program abandoned; incentive focus shifts to EVs - BusinessWorld Online

RACE program abandoned; incentive focus shifts to EVs - BusinessWorld Online

By Beatriz Marie D. Cruz, Senior Reporter THE Department of Trade and Industry (DTI) said it is dropping the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) program to focus its efforts on providing incentives to electric vehicles (EV) makers. “The CARS (Comprehensive Automotive Resurgence Strategy) program is already finished, so we focused on EVs,” Trade Secretary Ma. Cristina A. Roque told reporters on the sideline…