Taiwan firm in JV for electric vehicles
Teco Electric and Machinery Co. Ltd., one of Taiwan’s biggest conglomerates and the leading industrial motor manufacturer globally, is poised to expand its existing manufacturing facility in Subic Bay, Zambales, to produce and sell electric vehicles and components to the local market.
According to its partner, local firm Philippine Utility Vehicle Inc. (PhUV), Teco Electric has laid out a long-term electric vehicle development plan, which included creating new competitive advantages in its EV products, enhancing service and product quality, developing topflight personnel, and creating new EV products for the Philippine market.
The end target is to make the Philippines the manufacturing hub of electric vehicles in the region, PhUV said in a statement.
As part of the initial plans to enter the infant Philippine EV market, Teco Electric and PhUV have submitted a joint bid to produce electric tricycles for the $500-million e-Trike program of the Department of Energy and the Asian Development Bank.
Teco Electric is also mulling to pour in investments into the electric jeepney segment of the industry, through PhUV, the pioneer in EV mass assembly in the country.
Locally, PhUV is already investing P100 million for the mass production and supply of electric vehicles in the domestic market, following the granting of perks by the Board of Investments. These fiscal and nonfiscal incentives are a shot in the arm, not only for the company, but also for the sunrise electric industry.
In Taiwan, Teco is already producing the Teco EV car, one of its latest green products, which has exhibited an “outstanding performance” in the Taiwan traditional market as it ensures lower pollution and reduced operating costs.
To meet the demands of local transport circumstances such as frequent traffic congestions and the long rainy season, the Teco EV car would introduce advanced EV technology such as high-torque, low-speed electric motors to maintain speed during uphill climb, a waterproof electric motor containment and brushless AC motors to reduce maintenance downtime and costs.
