Yes, you read that headline right. The Nissan Leaf has just been given a major price reduction. This is due to Executive Order No. 12 which was recently signed by President Marcos Jr. As a result, the tariff on electric vehicles (EVs) has been temporarily cut from 30% to 0% for a period of 5 years.

But just how much did Nissan reduce from its original sticker price of PHP 2.798 million? A big chunk, actually. With E.O. 12 now in effect, Nissan Philippines Inc (NPI) has just announced that the Leaf is now only retailing for a cool PHP 1.998 million. This means Nissan was able to slash PHP 800,000 off the EV's suggested retail price.

While some might say it's still quite expensive, the fact that the automaker was able to remove PHP 800k from its price means those that are looking to buy Nissan's EV can now do so, for less.

"Nissan continues to make electrified mobility more accessible to our customers across the country, as a pioneer in the Philippines’ electrification movement. We welcome this development from the Philippine government as it further accelerates our electrification strategy for the country in line with our Nissan Ambition 2030, which aims to empower mobility and beyond by providing long-term sustainable solutions,” said Juan Manuel Hoyos, Nissan Philippines Inc president.

With E.O. 12 in effect until 2028, this could also give Nissan Philippines a chance to offer more EVs in the not-so-distant future. Models like the Ariya could make their way here since the zero tariffs on EVs means Nissan will be able to price them more competitively.

With this development, we'll be keeping a lookout for the possible EV models that Nissan will likely to the Philippines bring thanks to E.O. 12.